US-based footwear and sportswear retail giant, Foot Locker Inc, has entered into a long-term licensing agreement with footwear retail chain Metro Brands (MBL )to own and operate the brand’s stores in India.
Foot Locker has also entered into an agreement with Nykaa Fashion to manage its India website and selling the brand’s authorized merchandise on Foot Locker branded shops through Nykaa's existing e-commerce platforms.
A global leader in sneaker culture, Foot Locker aims to tap the robust Indian sneaker market. Driven by a surge in demand for unique designs that blend traditional Indian elements with modern trends, the segment is anticipated to reach a volume of 66 million pairs by 2028.
Mary Dillon, President and CEO, Foot Locker Inc, says, the combined omni-channel capabilities of its partners will help the company connect with the rapidly growing Indian market.
Adwaita Nayar, Co-Founder, Nykaa, and CEO, Nykaa Fashion adds, MBL’s partnership with Foot Locker allows it to offer the world's best sneaker brands and styles to its customers in India.
