Metro Brands Ltd (MBL) has announced an extension of its partnership with Crocs India Ltd (CIL), with adjustments made to the terms of their agreement. Under the renewed arrangement, MBL gains exclusive rights to own and operate Crocs “full price” stores across the western and southern states of India. This strategic move underscores MBL’s commitment to expanding its retail presence and potentially strengthening its market position in these key geographical areas.
The company released a statement saying, “The renewal has been finalised through a retail partnership agreement, with a few modifications in agreement terms, most important being granting MBL exclusive rights to operate and own Crocs “full price” stores across the western and southern States in India along with increase in residual balance term of the contract.” Additionally, it will be able to “continue, renew and operate all existing stores” that are presently running in India’s northern and eastern states.
It said, “Therefore, the current Non-Exclusive Retail Licence Agreement, signed between the organisation and Crocs India on April 25, 2015, stands superseded.”
The collaboration, which commenced in 2008, initially introduced Crocs’ products into MBL’s multi-brand outlets. In 2015, the brands formalized a non-exclusive retail license agreement, empowering MBL to distribute Crocs products across India. Presently, MBL oversees a network of over 200 exclusive Crocs stores.
Continue Exploring: Reliance Retail’s Lee Cooper enters women’s footwear segment
Sumit Dhingra, Vice President and General Manager for India, the Middle East, and Africa at Crocs, expressed, “Metro Brands has demonstrated exceptional skill in enhancing Crocs’ visibility in India. They have been instrumental in conveying our distinctive value proposition centered around self-expression, personalization, and iconic comfort, resulting in a retail experience that strongly connects with Indian consumers. As our esteemed partners, they have played a crucial role in our achievements. We are enthusiastic about continuing this journey together, expanding our outreach, and unlocking further possibilities for our customers in India.”
Nissan Joseph, CEO of Metro Brands Ltd, remarked, “Our collaboration with Crocs has been exceptionally rewarding, and we are primed for continued growth in enhancing Crocs’ footprint in our nation. At Metro Brands, we are unwavering in our commitment to delivering a top-tier retail experience and becoming the go-to destination for customers’ footwear needs. The path forward is brimming with boundless opportunities and achievements, and we are confident in the exciting future that lies ahead with Crocs.”
Metro Brands retails its Indian labels like Metro Shoes, Mochi, and Walkway, alongside renowned international brands such as Crocs, Fila, and FitFlop. Additionally, the company has unveiled a recent strategic collaboration with the US-based footwear powerhouse, Foot Locker.
Continue Exploring: Indian footwear industry set for exponential growth, projected to reach $90 Billion by 2030: GTRI Report
