The partnership encompasses implementing several AI-driven solutions to ensure product availability, hyper-local forecasting and operational efficiency for Metro Brands
New Delhi: Footwear brand Metro Brands Ltd. has joined hands with merchandise planning platform Nextail, as per a press release shared on Monday.
The partnership encompasses implementing several AI-driven solutions across the company’s buying and merchandising functions, the release said. It will help Metro Brands to ensure product availability, hyper-local forecasting and operational efficiency.
Nissan Joseph, chief executive officer, Metro Brands Ltd., said, “Our decision to partner with Nextail is based on their strong product vision and retail knowledge, but more importantly because of our shared ethos for leveraging cutting-edge solutions in favour of enhancing the customer experience.”
The footwear industry in India is expected to grow to $90 billion in 2030 from $26 billion now.
“We are so proud to embark on this journey with Metro Brands Ltd., an iconic and respected name in the Indian retail landscape. Together, we aim to empower Metro Brands Ltd. to stay at the forefront of retail innovation in India and worldwide,” said Juan Avedillo, co-chief executive officer, Nextail.
Metro Brands operates more than 800 stores across over 180 Indian cities and plans to open over 200 additional stores by FY 2025.
Founded by Joaquin Villalba and Juan Avedillo, Madrid-based Nextail uses AI and advanced technologies to provide merchandising planning to fashion retailers.
Metro Brands reported a 12.57% decline in consolidated net profit to Rs 98.78 crore for the third quarter ended December 2023. It had posted a net profit of Rs 112.99 crore during the October-December period a year ago. Read more about it here.
