Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
CK Hutchison Unit Launches Arbitration Against Panama Over Port Concessions Ruling 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Foot Locker, a leading footwear and apparel retailer headquartered in New York, has finally entered the Indian market as the sneaker industry is experiencing rapid growth.
The company is able to sell its goods in India by signing an exclusive licensing deal with Nyakaa fashion and cosmetic firm and Metro Brands footwear retail firm based in Mumbai.
The Times of India reported that the American retailer that is known for its vast collection of sneaker brands will venture into India through collaboration with Nykaa Fashion and Metro Brands. They agreed to a long-term contract, and this was revealed via business filings of the Indian partners on Wednesday, Nov. 29.
Tapping Into the Indian Retail Segment
Foot Locker hopes that its arrival in the Indian market next year will give its brand a much wider global footprint. As per Reuters, the deal with local firms also comes at a time when the company is struggling with inflation and costs in the U.S.
Thus, with Metro Brands' more than 700 stores in India and Nykaa's broader market reach, Foot Locker is also looking to offset its losses in its home market. In a recent press release for its third quarter report, the company stated, "These agreements will enable Foot Locker to efficiently access the large and growing sneaker market in India, consistent with the Company's efforts to strategically pursue growth opportunities in new markets, expand sneaker culture globally and bring Foot Locker's elevated, multi-brand experiences and strong vendor partnerships to even more people around the world."
Partnership Arrangement
With the licensing deal, Metro Brands will be allowed exclusive rights to own and run Foot Locker stores in India. It can also sell branded products authorized by Foot Locker in the outlets.
On the other hand, Nykaa Fashion will become Foot Locker's exclusive online selling partner. It will operate the country's footwear and sportswear company's standalone website. The brand's products will also be sold on Nykaa's own e-commerce platforms.
Photo by: Foot Locker Newsroom
