Metro brands Limited has announced the appointment of Mr. Harshvardhan Chauhan as Chief Marketing Officer and Senior Management Personnel, effective February 23, 2026. The company informed stock exchanges BSE and NSE about this key leadership addition in compliance with SEBI Listing Regulations.

Appointment Details

The appointment was formalized through regulatory filings submitted to both BSE and NSE on February 23, 2026. The communication was signed by Deepa Sood, Senior VP-Legal, Company Secretary & Compliance Officer, ensuring full regulatory compliance under Regulation 30 of the SEBI Listing Regulations.

Professional Background

Mr. Chauhan brings extensive experience to Metro Brands, with over 18 years in marketing and business leadership across diverse sectors. His industry expertise spans retail, fashion, lifestyle, grocery, home, and eCommerce segments, providing valuable cross-sector insights for the footwear retailer.

His professional journey includes leadership roles at several prominent organizations:

• Bharat YEF
• Trident Group
• RPSG
• DLF Shopping Malls
• ShopClues
• Godrej Group
• Reckitt Benckiser
• Accenture

Educational Qualifications

Chauhan's academic credentials include a Master's degree in Business Administration with specialization in Strategy and Business Management from Symbiosis, Pune. He has further enhanced his leadership capabilities by completing the Accelerated General Management Program from IIM Ahmedabad.

Strategic Leadership Addition

The appointment represents Metro Brands' continued focus on strengthening its senior management team with experienced professionals. Chauhan's diverse background across retail and eCommerce sectors aligns with the company's omnichannel strategy and growth objectives. His reporting relationship to CEO Nissan Joseph positions him as a key member of the executive leadership team.

The company has ensured full transparency by making this information available on its official website at www.metrobrands.com , maintaining compliance with disclosure requirements under SEBI regulations.

Metro Brands delivered a strong Q3FY26 performance, crossing the ₹800 crores revenue milestone for the first time on a consolidated basis. The footwear retailer reported 15% growth in both standalone and consolidated business, demonstrating resilience despite early festive season timing and challenging market conditions.

Financial Performance Highlights

The company's financial metrics showed consistent improvement across key parameters during the quarter ended December 31, 2025:

The quarter benefited from strong performance during the key Diwali and wedding season, with traffic remaining steady across both online and offline channels. Despite the early Puja season falling into Q2 and zero wedding days in January, the company successfully maintained its growth trajectory.

Digital Commerce and Premium Product Performance

Metro Brands' digital transformation continued to gain momentum with the e-commerce business growing 24% during the quarter. Digital commerce now represents 12% of total revenues, reflecting the company's successful omni-channel strategy. The growth was driven by multiple e-commerce channels and the company's focus on creating online-exclusive product lines.

Premium products priced above ₹3,000 maintained their strong position, accounting for 55% of total business. This premium focus, combined with ongoing GST benefits for specific product categories, supported the company's margin profile and brand positioning.

Store Expansion and New Format Development

The company's expansion strategy showed significant progress during the quarter:

A key highlight was the launch of 3 new MetroActiv stores designed for athletic performance seekers. These stores feature premium brands including Nike, New Balance, ASICS, and FILA, along with workout apparel to provide a comprehensive athletic experience. The company plans to continue investing in and refining this concept over the coming quarters, targeting Tier 1 and Tier 2 cities rather than metro markets initially.

Operational Challenges and Strategic Positioning

The company faced some operational headwinds, particularly related to BIS (Bureau of Indian Standards) norms affecting its Foot Locker and FILA operations. These regulations have impacted the availability of high-end imported athletic footwear, leading to a more measured approach to Foot Locker expansion. Despite these challenges, existing Foot Locker stores continue to perform, operating at approximately 75-80% of anticipated capacity.

The management indicated that BIS resolution, initially expected in Q3, has been pushed to Q2 of the next fiscal year. However, this has not deterred the company's long-term investment in new formats, as evidenced by the launch of MetroActiv stores and continued commitment to the Clarks partnership, with Clarks stores planned for Q3 of the coming fiscal year.

Financial Impact and Guidance

The quarter saw some impact from IndAS accounting adjustments and a ₹3.3 crores accrual for the new proposed Labour Code effective November 2025. However, these were partially offset by favorable tax adjustments. The company maintained its medium to long-term guidance of 15% CAGR, supported by like-to-like growth in mid to high single digits, new store contributions, and annualization benefits from previous year openings.

GST benefits continued to support the business, with customers receiving discounts of 3-4% on average across the portfolio, and up to 11% on products in the ₹1,000-2,500 price range. The company has committed to passing these benefits to customers while maintaining its markup structure.

Source: Metro Brands Limited Q3FY26 Earnings Conference Call Transcript