Early Life
Rafique Malik was born on October 30, 1950, in Mumbai, India. His entrepreneurial journey began early, assisting his father, Malik Tejani, in their family's shoe store in Mumbai. This initial exposure provided him with the foundational knowledge of the retail business, which would later become the cornerstone of his success. Rafique graduated from Mumbai University, further preparing him for his future endeavors. In 1955, Malik Tejani started the business as a single shoe store, which became the foundation for Rafique's entrepreneurial journey. He then took over the reins at a young age, continuing his father’s legacy.
Rise to Success
Rafique Malik transformed his father's modest shoe shop into Metro Brands, one of India's leading footwear retailers. Under his leadership, Metro Shoes evolved from a single store into a multi-chain format. He placed a strong emphasis on product quality and introduced well-known brands like Walkway, Fitflop, and Da Vinci. In 2007, Rakesh Jhunjhunwala acquired a 15% stake in Metro Brands, which marked a significant milestone in the company's growth. Metro Brands launched an IPO in December 2021, further solidifying its reputation. As of September 30, 2022, Metro Brands operated 720 stores across 160 cities in India.
Key Business Strategies
Rafique Malik focused on customer needs and introduced well-known brands. A key aspect of his strategy was to emphasize product quality. He also expanded the business through franchising, empowering local entrepreneurs. Metro Brands was one of the first footwear retailers to embrace e-commerce. Rafique's daughter, Farah Malik Bhanji, serves as the Managing Director of Metro Brands.
Philanthropy
Rafique Malik and Metro Brands are committed to corporate social responsibility and believe in giving back to the community. While specific amounts and initiatives are not extensively detailed in the search results, his focus on creating a sustainable business indicates a commitment to philanthropic endeavors within the ecosystem.
