Emkay Global Financial' research report on Metro Brands
Leveraging its strong balance sheet and best-in-class retail pedigree, Metro is prudently plugging portfolio gaps and remains a platform of choice for thirdparty brands looking to enter India. After announcing scalable partnerships with FILA/Footlocker, Metro has announced an exclusive, long-term distribution agreement to distribute Clarks across all offline/online channels in India and its neighboring countries. The agreement is a pure-play B2B model, where Metro has the right to purchase the inventory per the evolving consumer needs. Clarks is a global pioneer in comfort footwear for both, men and women, and is a preferred choice of consumers seeking premium footwear (ASP: Rs3,000-7,000) with modern style and exceptional comfort/quality.
Outlook
We reiterate BUY on the stock and our TP of Rs1,400 (60x Jun-27E EPS).
For all recommendations report, click here
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