Metro Brands Ltd, one of India s leading footwear and accessory retailers, has secured its largest warehousing space to date. The company has leased a custom-built 3.25 lakh square feet warehouse in Bhiwandi, near Mumbai, as part of its expansion strategy. The lease, directly from RK Builders, spans a duration of five years. This move underscores Metro Brands commitment to enhancing its operational capabilities and meeting the growing demand for its products in the market.
Food delivery giant Zomato secures its largest warehouse yet, spanning 300,000 sq ft in Bengaluru s Sumadhura Logistics Park. The park, investing Rs 600 crore, plans expansion to 6 million sq ft. With the logistics sector booming, the move aligns with India s industrial growth, driven by initiatives like Make in India and PLI schemes. Zomato s Q3 report shows a quadruple increase in profit to Rs 138 crore, with a revenue surge of 69% to Rs 3,228 crore.
Metro Brands Ltd, one of India s leading footwear and accessory retailers, has secured its largest warehousing space to date. The company has leased a custom-built 3.25 lakh square feet warehouse in Bhiwandi, near Mumbai, as part of its expansion strategy. The lease, directly from RK Builders, spans a duration of five years. This move underscores Metro Brands commitment to enhancing its operational capabilities and meeting the growing demand for its products in the market.
Established in 2015 and headquartered in Gurgaon, the company has successfully secured funds totalling Rs 131 crores to date from investors such as Sixth Sense Ventures, JAFCO Asia, among others.
Warehousing Space: E-commerce had more than a fifth of warehouse space in 2020. Third-party logistics accounted for 44% of the total absorption in H1, followed by manufacturing, retail and fast-moving consumer goods. Experts said companies are also looking to outsource space they had taken during the pandemic.