Every great business begins with a single step, and Rafique Malik's journey is a testament to this truth. He transformed a modest shoe shop into Metro Brands, one of India's leading footwear retailers. His journey is not only inspiring but also shows how unwavering determination and hard work can turn a dream into a remarkable reality. Let's explore the success story of Rafique Malik.

Background

Rafique Malik was born on October 30, 1950 in Mumbai and graduated from Mumbai University. His father, Malik Tejani, opened a small shoe shop in Mumbai in 1955, which became the foundation for Rafique’s entrepreneurial journey. After completing his studies, Rafique began managing his father's footwear business, which was still a modest store at the time. With a keen understanding of customer needs, he devised a business model focused on meeting those demands, setting the stage for future growth.

Metro Brands

Rafique Malik transformed Metro Shoes from a modest store into a renowned brand known for its premium footwear. He placed a strong emphasis on product quality and introduced well-known brands like Walkway, Fitflop, and Da Vinci. In 2007, the renowned investor Rakesh Jhunjhunwala acquired a 15% stake in Metro Brands, marking a significant milestone in the company’s growth. In December 2021, Metro Brands launched an IPO worth Rs 1,367 crore. Today, Metro Brands operates over 700 stores across 160 cities and has built a robust presence on various e-commerce platforms in addition to its physical stores.

Business success

Rafique Malik’s daughter, Farah Malik, serves as the Managing Director of Metro Brands. Under her leadership, the company is achieving new levels of success. Farah has demonstrated how a family business can thrive by embracing a modern approach. In 2023, Rafique Malik’s net worth was estimated at $2.1 billion (around Rs 17,160 crore). That year, he ranked 1,434th on Forbes' list of billionaires and was named India’s 89th richest person in 2022. Currently, Metro Brands has a market value of approximately Rs 23,000 crore.

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