Metro Brands to boost online retail

Footwear and accessories retailer Metro Brands plans to strengthen its online presence to boost sales. The company will also expand its retail footprint across India and over 20 stores have been planned over the next two months. Over the last three years, the retailer has been increasing store counts across brands. This fiscal, it is targeting a total of 56 stores. Except for some Walkway stores (value format offering), all are company-owned stores.

The Mumbai-based Metro Brands has a network of 535 stores, across over 117 cities. It houses brands like Metro Shoes, Mochi, Walkway, Davinchi and operates retail stores for Crocs. Metro Brands currently generates 3 percent of its overall revenue from online sales and expects it grow to 10 percent over the next three years.

Metro Brands had reported revenue of Rs 1,350 crore in FY19 and expects to close the current financial year with revenue of Rs 1,500 crore. Metro Brands, e-commerce’s share in total turnover is expected to jump from around 3 percent to around 10 percent over the next three years.