Under the terms of the agreements, Metro Brands is granted exclusive rights to own and operate Foot Locker stores within India and to sell authorized merchandise in Foot Locker stores.

Nykaa Fashion will serve as the exclusive e-commerce partner and operate Foot Locker's India website and retail authorized merchandise on Foot Locker branded shop on Nykaa’s existing ecommerce platforms.

Mary Dillon, president and CEO, Foot Locker, said, “We are thrilled to be partnering with Metro Brands and Nykaa Fashion to further elevate sneaker culture in India. Combining a strong understanding of the Indian consumer with Metro Brand’s extensive and well-established store operational excellence and Nykaa Fashion’s leading digital capabilities will allow us to bring the full Foot Locker experience and truly win over the hearts and minds of local sneakerheads.”

Nissan Joseph, CEO, Metro Brands, 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. It will also help us pave the way in revolutionizing the sneaker market, enhancing the retail experience, and meeting dynamic needs of our customers."

Metro Brands operate metro, mochi and walkway branded MBOs and Crocs branded EBOs. Company and our its Metmill also operate shop in shops (SIS) in major departmental stores across India. Firm also distribute products of third party brands through MetMill and retail products through franchisees.

Nykaa is an Indian e-commerce company headquartered in Mumbai. Company sells beauty, wellness and fashion products through its website, mobile app, and over 100 physical stores.

Shares of Metro Brands rallied 5.42% to Rs 1,397.55 while FSN E-Commerce Ventures rose 1.60% to Rs 174.90 on the BSE. Metro Brands hit an all time high at Rs 1,440.45 in intraday today.