Foot Locker announces licensing agreement with Metro Brands and Nykaa Fashion in India
Foot Locker, Inc., the renowned New York-based specialty athletic retailer, has entered into a significant licensing agreement with two key players in the Indian retail sector: Metro Brands Limited (MBL) and Nykaa Fashion. This partnership is set to revolutionize the Indian sneaker and sportswear market.
Exclusive Rights and E-commerce Expansion
Under this agreement, MBL is granted exclusive rights to own and operate Foot Locker stores in India and sell authorized merchandise. Nykaa Fashion, a leading destination for fashion and lifestyle, will become the exclusive e-commerce partner, operating Foot Locker’s India website and featuring Foot Locker branded products on Nykaa’s platforms.
Fueling Sneaker Enthusiasm in India
Recognized as a global leader in sneaker culture, Foot Locker aims to fuel the passion for self-expression among Indian consumers. The company’s commitment to offering exclusive assortments from top brands aligns perfectly with India’s next generation’s preferences.
Expanding Sneaker Culture: Foot Locker Partners with Metro Brands and Nykaa Fashion
Growth Potential in the Indian Market
The Indian sneaker market is projected to see substantial growth, with a forecast of reaching 66 million pairs by 2028. The partnership between Foot Locker, Metro Brands, and Nykaa Fashion is ideally positioned to meet the increasing demand for unique and trendy sneakers blending Indian and global styles.
Leadership’s Vision for the Collaboration
Mary Dillon, President and CEO of Foot Locker, Inc., expressed excitement about the venture. “Our partnership with Metro Brands and Nykaa Fashion will elevate sneaker culture in India. We are confident that our omnichannel approach will resonate well with the Indian market,” she said.
Nissan Joseph, CEO of Metro Brands Limited, also emphasized the significance of the partnership. “This collaboration aligns with our vision to bring global brands to India and revolutionize the sneaker market,” he stated.
Metro Brands and Nykaa Fashion: Pioneers in Retail
Metro Brands Ltd, with its recent milestone of opening its 800th store in India, offers a range of iconic Indian and international brands, while Nykaa Fashion is known for its extensive domestic and international brand offerings.
This collaboration is set to redefine the sneaker and sportswear landscape in India, bringing global fashion trends to the forefront of the Indian market.