Brands in News

Skechers partners with nature conservancyThe ‘Our Planet Matters’ offering contains materials such as recycled cotton, polyester, rubber, EVA and TPU, as well as durable designs and washable technologies to extend the life of the product.
Skechers USA, Inc., The Comfort Technology Company, announced that the brand is partnering with global environmental non-profit The Nature Conservancy through a multi-year commitment, contributing a minimum of $800,000 to help the organisation achieve its mission to protect our world’s lands and waters.
In addition, Skechers has created ‘Our Planet Matters’, a new collection of sustainable men’s, women’s, and children’s product which utilises recycled materials in its designs to help reduce the company’s environmental impact.
The recycled contents of each style will be featured on packaging and hang tags to provide consumers with detailed knowledge of ‘Our Planet Matters’ products at the time of purchase.
Skechers’ partnership with The Nature Conservancy will help fund the organisation’s mission, which encompasses global efforts such as reforestation initiatives that align with the company’s longstanding commitment to reducing tree harvesting and emissions through packaging.

And, in step with it is the Big B of Bollywood, Amitabh Bachchan, whom it has roped in as brand ambassador.
The ₹2,000 crore company, which is one of India’s largest polyurethane (PU) footwear maker, believes that Bachchan will inspire both young and old customers alike, and help change people’s perception of footwear.
Expanding footprint“We expect that VKC brand campaigns featuring Amithabh Bachchan will positively influence the markets in the north, where the per capita consumption of footwear is lower,” says Razak.
In 2007, VKC started production of PU footwear at price points that were 50 per cent less than prevailing market rates.
Razak believes India can close the gap considering the labour cost and availability.

They said offices and other locations of the realtor and footwear exporters in Agra, Noida and Delhi were covered as part of the searches.
The operations were led by additional director of income tax (investigations) Neelam Agrawal, and assistant director of income tax (investigations) Ashima Mahajan.
Deputy director of Income Tax Rajeev Prasad was leading the team.
The builder was said to be close to the Samajwadi Party.
These only show the BJP’s desperation,” said Suheldev Bharatiya Samaj Party leader Om Prakash Rajbhar, whose party has inked a pre-poll pact with the Samajwadi Party.

Kanpur: The Kanpur administration has directed the Uttar Pradesh Pollution Control Board to close tanneries and factories situated on the banks of Ganga in Jajmau in view of the upcoming Magh Mela in Prayagraj.
The Board’s regional office has written letters to the Tannery Associations asking them to shut the tanneries for two-three days prior to different bathing festivals so that the discharge is not generated inside the tanneries.
Anil Mathur, regional officer of the Uttar Pradesh Pollution Control Board, said that a four-day roster for closure of tanneries had been prepared taking into account the major bathing festivals.
The tanneries would be closed three days before the bathing dates and after the festival the tanneries can resume their production.
Cases will be registered, and fines will be imposed on violation of orders, Mathur said.

Footwear retailer Metro Brands Ltd, which is likely to come out with its initial share-sale by the end of the month, will utilise Rs 250 crore from the proceeds towards opening 219 stores in the next two-and-half years, its senior official said on Thursday.At present, the company has 586 stores in 134 cities spread across 29 states and union territories in India.
Of these, 211 stores were opened in the last three years.It opened its first store under the Metro brand in Mumbai in 1955 and have since evolved into a one-stop-shop for all footwear needs, by retailing a wide range of branded products for the entire family including men, women, unisex, and kids, and for every occasion including casual and formal events.Speaking to PTI, Nissan Joseph, Chief Executive Officer, Metro Brands, said the company will open 219 new stores in the next two-and-half years across the four formats — Metro, Mochi, Walkway, and Crocs.Apart from opening new stores, he said that the company plans to leverage its existing capabilities to increase e-commerce operations, expand revenue-generating channels and become a digitally relevant brand in the coming years.Also, the footwear retailer is aiming to grow in allied businesses like accessories, shoe care, and foot care, he added.The company said 69 per cent of its revenue is generated from its private brands and the remaining 31 per cent from third-party brands.The pandemic effected the footwear industry including Metro Brands as the company’s revenue from operations dropped to Rs 800 crore in financial year (FY) 21 from Rs 1,285 crore in FY20, while profit after tax (PAT) declined to Rs 64.6 crore in FY21 from Rs 160.6 crore in FY20.To combat the covid crisis, Metro Brands has taken a slew of steps, including, shutting down underperforming stores and rationalization staff associated with such stores, which ultimately helped the company.
“Now, the overall, demand of footwear has reached the pre-COVID level, and our online sales are also growing rapidly,” the company’s chief executive said.Ace investor Rakesh Jhunjhunwala-backed Metro Brands’ proposed initial public offering ( IPO ) comprises fresh issuance of equity shares worth Rs 250 crore and an offer of sale of 2.19 crore equity shares by selling shareholders.Investment bankers said the initial share sale will fetch Rs 950 crore.Through the IPO, the company’s promoters will offload a nearly 10 per cent stake in the company.
Post the IPO, the promoter and promoter group holding in the company will come down to 75 per cent from the current level of around 85 per cent, Joseph said.The company filed its preliminary IPO papers with Sebi in August and obtained the regulator’s clearance in November to float the public issue.