Foot Locker, Inc., the specialty athletic retailer based in New York, has announced a long-term licencing agreement with Metro Brands Limited (MBL), one of India’s largest footwear and accessories specialty retailers, and Nykaa Fashion, one of India’s leading curation-led fashion and lifestyle destinations. This collaboration aims to provide sneaker aficionados in India with the most comprehensive assortment of worldwide sportswear and footwear.
The agreements offer MBL the unique right to own and operate Foot Locker stores in India, as well as sell authorised items in Foot Locker stores. Nykaa Fashion will serve as Foot Locker’s exclusive e-commerce partner, operating the India website and retailing authorised items on Foot Locker branded shops on Nykaa’s existing ecommerce platforms.
Mary Dillon, President and CEO at Foot Locker, Inc, said, “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 omni-channel strength of our partners, we are uniquely positioned to appeal to the rapidly growing Indian market.”
Nissan Joseph, CEO, Metro Brands Limited, said, “At Metro Brands, our vision is to bring the finest global brands to India and cater to the complete shoe wardrobe of our customer. This partnership is a big step in that direction.”
Adwaita Nayar, Co-Founder of Nykaa, and CEO Nykaa Fashion said, “Nykaa Fashion has been at the forefront of bringing the most stylish and relevant curations and brands to Indian shoppers- from Global cult favourites to local hidden gems. 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.”
According to a report, the sneaker market in India is expected to reach 66 million pairs by 2028. The sneaker market is booming in India, with customers looking for distinctive designs that combine traditional Indian components with modern trends. In this regard, MBL and Nykaa Fashion are well-positioned to benefit from India’s expanding sneaker demand and fashion sector.
