Footwear brand Metro Brands Ltd. has collaborated with the merchandise planning platform Nextail, as disclosed in a press release on Monday.
The collaboration involves integrating various AI-driven solutions into the company’s buying and merchandising functions, according to the press release. This initiative aims to enhance Metro Brands’ capabilities in ensuring product availability, hyper-local forecasting, and operational efficiency.
Nissan Joseph, chief executive officer, Metro Brands Ltd., said, “Our decision to partner with Nextail is based on their strong product vision and retail knowledge, but more importantly because of our shared ethos for leveraging cutting-edge solutions in favour of enhancing the customer experience.”
The Indian footwear sector is projected to grow from its current $26 billion to reach $90 billion by the year 2030.
“We are so proud to embark on this journey with Metro Brands Ltd., an iconic and respected name in the Indian retail landscape. Together, we aim to empower Metro Brands Ltd. to stay at the forefront of retail innovation in India and worldwide,” said Juan Avedillo, co-chief executive officer, Nextail.
Metro Brands operates more than 800 stores in over 180 cities across India and plans to open more than 200 additional stores by FY 2025.
Established by Joaquin Villalba and Juan Avedillo, Nextail, headquartered in Madrid, utilizes artificial intelligence and advanced technologies to offer merchandising planning services to fashion retailers.
In the third quarter concluding in December 2023, Metro Brands witnessed a 12.57% decrease in its combined net profit, amounting to INR 98.78 crore. This contrasts with the INR 112.99 crore net profit recorded in the corresponding October-December period of the previous year.
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