Indian footwear retailer Metro hiring up to 2,000 store workers-CEO

ARVIND FASHIONS

23/02/2023 08:56

By Praveen Paramasivam
       CHENNAI, Feb 23 (Reuters) - Metro Brands Ltd  METB.NS ,
which sells Crocs clogs in India, is hiring between 1,500 and
2,000 workers in the country to staff the new footwear stores it
plans to open by the end of 2025, its chief executive told
Reuters.
    The company, which had 720 stores as of end-2022 and nearly
4,000 employees overall, said last March it would add 260 new
stores that sells brands such as Mochi, Walkaway and Metro, to
expand in cities where it is already present and enter smaller
towns.
    "To support the extra stores, we would definitely need more
back office staff (in addition to store workers)," CEO Nissan
Joseph said in an interview on Wednesday.
    Joseph said the rising affluence in the country and a shift
in consumer spend from mom-and-pop stores to bigger chains have
set Metro up for sales gains. The company reported a near 68%
jump in revenue for the nine months ended Dec. 31.
    "We see middle-class incomes growing in India ... And when
incomes rise, what people want is better products, better
brands," said Joseph.
    Besides Metro, several other apparel and footwear players –
including Arvind Fashions  ARVF.NS  which sells Tommy Hilfiger
and Calvin Klein in India – have doubled down on smaller cities
to tap growing household incomes and penchant for global brands.
    Metro, which operates nearly 200 exclusive stores selling
only footwear made by Crocs Inc  CROX.O , will also benefit from
the U.S. company's plans to sharpen its focus on sandals, which
is commonly worn by Indians, said Joseph.
    "There's still a considerable runway for Crocs to continue
to grow," he said.
    Earlier this month, Crocs reported record revenue for 2022,
with its Asia-Pacific business outgrowing North America.
    Metro's shares, which climbed 93% last year, have declined
nearly 4% so far in 2023.
 (Reporting by Praveen Paramasivam in Chennai)
 ((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))