Metro shoes on expansion drive

Despite the ongoing economic slowdown affecting consumer sentiments, Metro Shoes plans

to go ahead with its retail expansion drive. The company recently launched its 1st store in Bareilly adding to its existing 10 stores in Uttar Pradesh. It plans to open 30 new stores this fiscal despite a dip in sales. Sales fell five per cent in same stores. Though there has been slump in sales over last six month with same stores sales going down from 14 per cent to 8 per cent across all its formats, it wants to continue with its retail footprint expansion because it feels that new store openings would ensure growth.

The brand currently has 230 stores in 60 cities and plans to add another 30-35 stores this year with an investment of nearly Rs 80 lakh a store. It would raise debt through banks to fund the expansion drive. With new store launches, the brand expects to achieve a growth at 30 per cent CAGR this year. Increasing its presence in Tier III, IV towns with all its three formats – Metro, Mochi and MSL (More for Less) is also on its radar.

Metro Shoes is the largest fashion footwear retailer in India, with a countrywide network across 125 prime locations, offering a mix of Indian and international designs. The first Metro Shoes store opened in Colaba, Mumbai in 1947. Metro Shoes is also the first footwear company in India to have successfully started and implemented the e-commerce model. Metro Shoes conducts its operations through company managed stores and is a one-stop destination for all footwear needs across age-groups.