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Metro Brands Limited opens 200th Crocs store in Chennai, India

Metro Brands Limited (MBL), India's swiftest-growing footwear retailer, celebrates a pivotal moment with the inauguration of its 200th Crocs store in India, marking a significant milestone in its retail expansion.

Partnering with Crocs India Limited (CIL) since 2008, the collaboration has won the hearts and feet of Indian consumers, establishing a deeply cherished brand. The journey evolved in 2015 with a non-exclusive retail license agreement, granting MBL the authority to distribute Crocs products in India.

From the inaugural exclusive Crocs store in Lucknow in 2015 to the current milestone at Pondy Bazaar, Chennai, the partnership showcases seamless alignment with MBL's mission. Maulik Desai, Business Head-Crocs at MBL, emphasizes their commitment to a global retail experience focused on comfort and style.

Sumit Dhingra, VP & General Manager, India & SEA, expresses delight in Metro Brand's role as Crocs' significant partner, envisioning an even more exciting future in Indian footwear.

This 200th store not only cements Metro Brand's status as India's fastest-growing footwear retailer but also underscores the enduring impact of the partnership with Crocs India Limited, promising an innovative future in Indian footwear.

Metro Brands Limited opens 200th Crocs store in Chennai, India

M&S India on a growth spurt with its versatile portfolio and brand recall

As a historic British multinational retailer founded in London in 1884, Marks & Spencer (M&S) has become synonymous with quality and durability over decades in its core segments of clothing, beauty products, home furnishings, and food products. Having forayed into India in 2008 in a joint venture with Reliance Retail, the company has been on a growth trajectory.

With over a 100 stores in the country, M&S plans to continue opening new stores and ramp up existing ones in India, this at a time when its closing numerous outlets back home in the UK. M&S India is now on a roll with plans to open one store a month in India. The USP of these stores will be strengthening the home segment which includes kitchen, bathroom, bedding, and home accessories along with lingerie and bodycare and cosmetics segments that sell well in India.

As per Mumbai-based business data analysts company Tofler, M&S India has been on a growth spurt with operating revenue rising 53 per cent from Rs 1087.7 crore in 2022 from just Rs 710.6 crore in 2021. Profits have been rapidly growing with a net profit of Rs 278.5 crore in 2022 compared to a net loss of Rs 72.4 crore, during the same period in 2021. A lot of this can be attributed to the 60 per cent advertisement spend increase in online and offline channels to make it a household name in India.

Lingerie, winterwear and home products sell well

M&S India has around 6,000 styles in their versatile product portfolio which includes summer and winter wear, accessories and footwear, lingerie and home products et al. Lingerie and winter wear have always been the best-sellers for M&S globally and account for a large part of its India revenue as well.

As Ritesh Mishra, MD, Marks & Spencer India explains a quarter of their business is lingerie. To begin with they were not too optimistic about the category. As of now, M&S launches one innovative product every month, under this category. Sleepwear is a strong sub-category of lingerie. There ‘Stay New’ is a technology allows T-shirts and other clothing items to remain fresh, even after 18-20 cycles of washes. This increases the value of the product as it enhances its longevity.


Large stores, brand recall boosts footfall
The urban millennials in metros and Tier I cities have always been aware about M&S as a brand, thus not many changes have been made in design and style in the product range to heighten brand recall. Around 60 per cent stores are spread in metros and Tier-I cities in high-profile real estate spots and Tier-II cities account for the remaining 40 per cent.
Store sizes range from 15,000-20,000 sq. ft. to showcase the vast portfolio. The brand’s and 100th store that opened in Mumbai is a proof of it growing popularity. While physical stores account for three-quarters of sales, online sales across various websites account for the remaining quarter of sales. Many online medium are third-party partners who understand the customer base across India and focus on digital channels is rapidly growing. Positioning the brand in the mid-to-premium segment, M&S India is the second-largest international operation in terms of revenue for M&S outside the UK.

M&S India on a growth spurt with its versatile portfolio and brand recall

Reebok launches flagship store in Bengaluru

23 November 2023, Mumbai

Reebok, the well-known footwear and apparel brand, has opened its flagship store in Kammanahalli, Bengaluru. The opening was led by OP Jaisha, accomplished field athlete and Olympian.

This cutting-edge store features an extensive and carefully curated collection that includes a wide range of footwear, clothing, and accessories, catering specifically to the diverse requirements of fitness enthusiasts.

Outlines

As an integral part of the Authentic Brands Group (ABG), Reebok collaborates closely with Aditya Birla Fashion and Retail (ABFRL) in India.

With a strategic vision to expand its retail footprint, the brand has ambitious plans to open new stores throughout the country, solidifying its strong presence in the Indian market.

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Raymond Ltd sees strong Q2: Steady profits, diverse growth

16 November 2023, Mumbai

Raymond Ltd reported a nearly stagnant net profit at Rs 161.16 crore for Q2 ending September 2023, compared to Rs 161.95 crore in the same period last year.
However, the diversified group showcased resilience with a 3.92% growth in revenue from operations, reaching Rs 2,253.40 crore. Total expenses for the Singhania family-led firm increased by 7.12% to Rs 2,093.41 crore during the quarter.

Details
Emphasizing sustained growth, Raymond highlighted the second quarter as its ninth consecutive period of record performance in revenue and EBITDA.
Despite a delayed festive season, the company achieved a 6% rise in revenue to Rs 2,321 crore, boasting a robust EBITDA margin of 16.5%.
Notably, the branded apparel segment saw an 18% surge with the opening of 63 stores, and the real estate sector exhibited strength, recording over Rs 650 crore in total booking value for Q2FY24.

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Raymond Ltd sees strong Q2: Steady profits, diverse growth

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