Foot Locker has tied up with Metro Brands Ltd. and Nykaa Fashion for its India entry. While Metro Brands will have exclusive rights to own and operate Foot Locker stores in India Nykaa Fashion will serve as its exclusive e-commerce partner
New Delhi: New York-based speciality athletic retailer Foot Locker, Inc., will be entering India, Metro Brands Ltd. (MBL) one of its India partners announced in a release on Wednesday.
Foot Locker has signed a long-term licensing agreement with Metro Brands Limited (MBL) and Nykaa Fashion.
Under the terms of the agreements, MBL is granted exclusive rights to own and operate Foot Locker stores within India and to sell authorized merchandise in Foot Locker stores, the joint release added.
Nykaa Fashion will serve as the exclusive e-commerce partner and operate Foot Locker’s India website and retail authorized merchandise on Foot Locker branded shop on Nykaa’s existing e-commerce platforms.
“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 omnichannel strength of our partners, we are uniquely positioned to appeal to the rapidly growing Indian market,” Mary Dillon, president and chief operating officer at Foot Locker, Inc, said.
“Combining a strong understanding of the Indian consumer with Metro Brand’s extensive and well-established store operational excellence and Nykaa Fashion’s leading digital capabilities will allow us to bring the full Foot Locker experience and truly win over the hearts and minds of local sneakerheads,” Dillon added.
Speaking about the partnership Nissan Joseph, chief executive officer, Metro Brands Limited, said, “This partnership will help us pave the way in revolutionizing the sneaker market, enhancing the retail experience, and meeting the dynamic needs of our customers.”
Metro Brands Ltd. recently launched its 800th store in India. Read more about it here.
Adwaita Nayar, co-founder of Nykaa, and chief executive officer of Nykaa Fashion said, “Now, 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.”
In addition to featuring curated domestic brands, Nykaa Fashion, through its Global Store offers over 600 international brands such as Revolve, NA-KD and Cider, among others.
According to a report, the volume of the sneaker segment in India is projected to reach 66 million pairs by 2028. The sneaker segment is experiencing rapid growth in the country, with consumers seeking out unique designs that blend traditional Indian elements with modern trends. The partnership will enable MBL and Nykaa Fashion to capitalize on the country’s growing sneaker demand.