Based in Mumbai, Metro Brands has created a niche for itself with renowned shoe labels like Metro Shoes, Walkway, FitFlop, and Da Vinchi.
New Delhi: Rafique Malik is one of the well-known businessmen in India. He is the owner of the country’s leading footwear retail company, Metro Brands. Based in Mumbai, Metro Brands has created a niche for itself with renowned shoe labels like Metro Shoes, Walkway, FitFlop, and Da Vinchi.
The company boasts a whopping market capitalization of Rs 23,000 crore. Rafique’s second daughter, Farah Malik Bhanji, serves as the managing director, overseeing the business. She is one of his five daughters. As of September 30, 2022, Metro Brands operated 720 stores across 160 cities in India.
All you need to know about Rafique Malik:
- Rafique Malik’s net worth is an impressive USD 2.1 billion (approximately Rs 17,160 crore), according to Forbes
- He was ranked 1,434th on the Forbes list of billionaires in 2023
- He was also listed as the 89th richest person in India in 2022
- Rafique is married to Aziza Malik, and together they have five daughters who are part of his life’s legacy.
- Metro Brands was founded by Rafique’s father, Malik Tejani, in 1955 with a single shoe store in Mumbai
- The company has seen a meteoric rise over the years and has become one of the trusted names in footware industry.
One of the key moments in the company’s journey was when the late ace investor Rakesh Jhunjhunwala showed faith in its potential. In 2007, Metro Brands sold a 15% stake to Jhunjhunwala, further fueling its growth.
In December 2021, Rafique led the company to a significant milestone by taking it public with a ₹1,367 crore initial public offering (IPO). This achievement marked a turning point for Metro Brands, establishing it as a key player in the retail industry and cementing its position in India’s business landscape.