Monday, April 15, 2024

Advertisement

Metro Brands, Crocs India extend retail partnership

By Retail4Growth Bureau | April 01, 2024

As per the partnership renewal agreement, MBL has been granted exclusive rights to operate and own Crocs “full price” stores across the western and southern states in India. 

Metro Brands Limited (MBL), the leading footwear and accessories specialty retailers, has announced the extension of its partnership with Crocs India Limited (CIL), a global leader in innovative casual footwear. The renewal is sealed through a retail partnership agreement, with a few changes in agreement terms, most important being granting MBL exclusive rights to operate and own Crocs “full price” stores across the western and southern states in India and increase in residual balance term of the contract, says the company statement. 

Further, MBL will have rights to continue, renew & operate all existing stores that are currently operational in Northern & Eastern states of India. The partnership, which commenced in 2008, was initiated with the introduction of Crocs' products within MBL multi-brand outlets. In 2015, this partnership deepened as the brands inked a nonexclusive retail license agreement. This agreement authorized MBL to distribute Crocs products in India, aligning seamlessly with the MBL mission of bringing global brands to India and offering a dynamic retail experience to its customers. Today, MBL operates over 200 exclusive stores of Crocs across India.

Sumit Dhingra, VP & General Manager, India, Middle East & Africa, Crocs said, “Metro Brands has truly excelled in elevating Crocs’ presence in India. They have played a pivotal role in translating our unique value proposition of self-expression, personalization and iconic comfort – into a retail experience that resonates deeply with Indian consumers. We are excited to continue this journey together, broadening our reach and unlocking even more possibilities for our customers in India." 

Nissan Joseph, CEO, Metro Brands Limited, said, “Our partnership with Crocs has been truly extraordinary, and we are poised for further growth in advancing Crocs' presence in our country. At Metro Brands, our dedication remains steadfast in delivering a world-class retail experience and owning customer’s footwear wardrobe. The journey ahead is filled with limitless possibilities and milestones, and we are confident about the exciting future with Crocs that lies ahead." 

Advertisement

Related News

Advertisement
Have You Say
Advertisement
Resource
Follow Us On
Advertisement