Page 2 - Footwear

Footwear retailer Metro Brands subscribed 27% on Day 1 of issue

The Rs 1,367-crore IPO comprises a fresh issue of Rs 295 crore and an offer for sale of Rs 1,072 crore.

Footwear retailer Metro Brands IPO receives 27% subscription on first day

The company on Thursday raised more than Rs 410 crore from anchor investors

Jhunjhunwala-backed Metro Brands eyes pre-Covid margins as sales normalise

The footwear retailer has seen demand pick up across categories post the second wave of the pandemic

Multiple price hikes could impact demand of footwear companies, say experts

The increase in product prices are on account of higher input costs, GST hike

IPO-bound Metro Brands aims to utilise Rs 250 cr for store expansion

At present, the company has 586 stores in 134 cities spread across 29 states and union territories in India. Of these, 211 stores were opened in the last three years

D2C footwear brand Neeman's raises Rs 7 cr in debt from Stride Ventures

The sustainable footwear brand was founded two and a half years back and has sold 250,000 pairs of footwear since then.

Industry divided over 12% uniform GST rate on apparel and footwear

Large manufacturers and retailers are mostly happy as move addresses issue of inverted duty structure; some others see it as hurting small units, along with retailers and customers

12% uniform GST rate on apparel and footwear from Jan evokes mixed reaction

Experts hail move, section of clothing industry decries it saying only a small group within the sector had inverted duty structure

Footwear retailer Metro Brands files IPO papers with Sebi

Footwear retailer Metro Brands Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale. The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 250 crore and an offer-for-sale of 21,900,100 equity shares by selling shareholders, according to the draft red herring prospectus (DRHP). The company will consider a pre-IPO placement aggregating up to Rs 10 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds of the fresh issue will be used towards expenditure for opening new stores of the company, under the "Metro", "Mochi", "Walkway" and Crocs brands and for general corporate purposes. The company-backed by ace investor Rakesh Jhunjhunwala, is an Indian footwear retailer targeting the economy, mid and premium segments in the footwear market. It opened its first store under the Metro brand in Mumbai in 1955, and have since evolved into a one-stop shop for all footwear

Bata India to focus on expansion in small towns, online channels

This is part of the firm's efforts to save cash through enhanced productivity, cost-reduction and tight inventory management

Footwear, readymade garments likely to attract higher rates of GST

The fitment committee, which recommends rate changes to the Council, has proposed increasing the rate on footwear (less than Rs 1,000), readymade garments, and fabrics to 12% from 5% now

Bata India appoints ex-Britannia exec Gunjan Shah as country CEO

Shah takes over next month; Sandeep Kataria, Bata India's current CEO, has been elevated to the position of global CEO

These $4,400 sneakers are new stilettos as Covid accelerates causal trend

Demand for designer shoes last year slid 21 per cent globally compared to a 19 per cent slump for the broader footwear market

FDDI setting up centres of excellence at seven campuses: Official

The Footwear Design and Development Institute (FDDI) is setting up seven centres of excellence at some of its campuses with an aim to develop new product designs and provide technical support to the industry, a senior government official said. The institute comes under the aegis of the commerce and industry ministry. FDDI Managing Director Arun Kumar Sinha said the work for setting up of these centres is going at a fast pace and "we are expecting that they would be operational by March next year". These centres are coming up at Noida (centre for R&D, course development), Rohtak (centre for non-leather footwear) , Kolkata (centre for leather goods), Chennai and Hyderabad (centre for design), Patna (centre for leather finishing innovationand product retailing) and Jodhpur (specialised footwear). These centres are being set up with a total outlay of about Rs 129 crore. FDDI has total 12 campuses in different parts of the country. "The centres of excellence would act as a single point

How Bata tweaked its product mix to woo shoppers during the pandemic

Focus on casual footwear, taking brand to consumers among key measures

Footwear industry says it lost export orders worth $1 bn due to Covid-19

Says it may require support from government in the form of reduction in GST, especially for footwear priced above Rs 1,000

Brown is the new black in shoes for the aspiring Indian male office goer

Indian males are opting for stylised brogues and heels, while double monk and loafers are making inroads into the formal footwear range dominated thus far by closed-lace Oxfords and Derbys

Growth in premium footwear segment underlines Bata's earnings outlook

Store expansion plans in tier-2, 3 towns will aid top line, margins

Decorative paints and footwear stand out amid slowdown, may remain outliers

Market share gains and focus on product premiumisation are helping these segments

Choosing the right pair of footwear can help prevent many health problems

Choose a shoe with a squared or rounded toe-box