U.S. retailer Foot Locker in talks with Metro Brands for India entry

U.S. footwear and sportswear retailer Foot Locker Inc is in talks with Metro Brands Ltd to enter the Indian market, ET Now reported citing anonymous sources.

Foot Locker, which retails popular footwear brands including Adidas and Nike Inc, is in discussions with four Indian players to appoint a franchise, ET Now tweeted. The details of the companies were not disclosed.

Foot Locker and Metro Brands did not immediately respond to Reuters requests for comment.

The rising affluence in the country and a shift in consumer spending from mom-and-pop stores to bigger chains have set Metro up for sales gains, Metro Brands Chief Executive Nissan Joseph told Reuters on Wednesday.

Foot Locker has over 2,800 retail stores in 28 countries across North America, Europe, Asia, Australia, and New Zealand.