Metro Brands plans to strengthen online presence, open 20 new stores
Footwear and accessories retailer Metro Brands Ltd is looking to strengthen its online presence to boost sales. The company will also be expanding its retail footprint across India and over 20 stores have been planned over the next two months.
Metro Brands currently generates three percent of its overall revenue from online sales and expects it grow to 10 percent over the next three years.
The company previously 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. Discussions have been on with the marketplaces to ensure price parity between online and offline channels. Stocks across stores and online channels are being refreshed with approximately 40 new styles being introduced every week,” Alisha Malik, vice-president-marketing and e-commerce, told BusinessLine.
“Over the last three years, we have been increasing store counts across brands. This fiscal, we are targeting a total of 56 stores. Except for some Walkway stores (value format offering), all are company-owned stores,” Malik added.
The Mumbai-based Metro brands Ltd 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.
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