U.S. retailer Foot Locker in talks with Metro Brands for India entry - report

Metro Brands

24/02/2023 15:19

BENGALURU, Feb 24 (Reuters) - U.S. footwear and
sportswear retailer Foot Locker Inc  FL.N  is in talks with
Metro Brands Ltd  METB.NS  to enter the Indian market, ET Now
reported on Friday. 
    Foot Locker, which retails popular footwear brands including
Adidas  ADSGn.DE  and Nike Inc  NKE.N , is in discussions with
four Indian players to appoint a franchise, ET Now tweeted. The
details of the companies were not disclosed.    
    Foot Locker and Metro Brands did not immediately respond to
Reuters requests for comment.  
    The rising affluence in the country and a shift in consumer
spending from mom-and-pop stores to bigger chains have set Metro
up for sales gains, Metro Brands Chief Executive Nissan Joseph
told Reuters on Wednesday. 
 (Reporting by Hritam Mukherjee in Bengaluru; Editing by Shweta
Agarwal)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878;))