New York-based retailer Foot Locker Inc has signed a long-term licensing agreement with Metro Brands Limited (MBL) and Nykaa Fashion for its entry into the Indian market.
With this partnership, Metro Brands will have the exclusive rights to own and operate Foot Locker stores within India and sell authorised merchandise in Foot Locker stores.
As the e-commerce partner, Nykaa Fashion will operate Foot Locker’s India website and retail authorised Foot Locker merchandise on its existing e-commerce platforms.
Commenting on the partnership, Mary Dillon, president CEO at Foot Locker in a statement said, “We are thrilled to be partnering with Metro Brands and Nykaa Fashion to further elevate sneaker culture in India. The passion for sneakers in this market is tremendous, and we believe that with the combined omni-channel strength of our partners, we are uniquely positioned to appeal to the rapidly growing Indian market.”
Nissan Joseph, CEO of Metro Brands Limited added, “At Metro Brands, our vision is to bring the finest global brands to India and cater to the complete shoe wardrobe of our customer. This partnership is a big step in that direction. It will also help us pave the way in revolutionizing the sneaker market, enhancing the retail experience, and meeting dynamic needs of our customers.”
Adwaita Nayar, CEO Nykaa Fashion said, “With our partnership with Footlocker, we are excited to bring the world’s best sneaker brands and styles to feed an exploding sneaker culture in India.”
Metro Brands which recently launched its 800th store in India has the licenses for international brands like Crocs, Fitflop, Fila in India.
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