Metro Brands shares rise 6% on partnership with British footwear giant
Metro Brands shares rose 6 per cent on Tuesday after it announced a strategic partnership with the British footwear brand, Clarks
 "Metro Brands shares rise 6% on partnership with British footwear giant")
Shares of Metro Brands rallied nearly 6 per cent on Tuesday after it announced a strategic partnership with the British footwear brand, Clarks, helping make a comeback to the Indian market.
The footwear company's stock rose as much as 5.7 per cent during the day to ₹1,214.9 per share, the biggest intraday gain since May 23 this year. The stock pared gains to trade 0.95 per cent higher at ₹1,160 apiece, compared to a 1.04 per cent advance in Nifty 50 as of 11:00 AM.
Shares of the company gained for the second straight day on Tuesday. The counter has fallen 4.8 per cent this year, compared to a 6.7 per cent fall in the benchmark Nifty 50. Metro Brands has a total market capitalisation of ₹31,530.42 crore, according to BSE data. Track LIVE Stock Market Updates Here
Metro Brands-Clarks partnership
Clarks has partnered exclusively with Metro Brands for its India comeback, according to an exchange filing by the company on Monday. Both companies "aim to redefine the comfort footwear experience in India, blending timeless design with the evolving preferences of today’s discerning Indian consumer."
Metro Brands is appointed as Clarks' exclusive retail and digital partner for India and neighbouring countries, including Bangladesh, Bhutan, Nepal, Maldives and Sri Lanka, the statement said. Further, Metro Brands will also manage Clarks’ e-commerce operations in India, the official Clarks India website and all digital commerce platforms, and has the exclusive right to sell Clarks in all offline channels.
India has always been a market with a deep appreciation for quality and timeless style, and this collaboration will bring the best of Clarks’ legacy in comfort and craftsmanship to a new generation of customers, Joe Ulloa, Clarks' president – UK and EMEA, said in the statement. "This partnership marks a significant step in our journey to connect with Indian shoppers and play a leading role in the premium comfort footwear sector.”
About Metro Brands
Metro Brands is an Indian footwear speciality retailer. In addition to men’s, women’s, and kids' footwear, it also has a wide range of handbags, belts, wallets, etc.
The Metro footwear range is curated based on the regional sensitivity to cater to the needs of different regions. As of December 31, 2024, the Company operated 895 Stores across 203 cities spread across 31 states and union territories in India.