Early Life
Rafique Malik was born on October 30, 1950, in Mumbai. His journey began with his father, Malik Tejani, who opened a small shoe store in Mumbai in 1955. Rafique graduated from Mumbai University. From a young age, Rafique began managing his father's footwear business, learning the intricacies of the trade.
Rise to Success
After completing his studies, Rafique Malik took the reins of his father's business at the age of 16. He transformed the modest store into Metro Brands, one of India's leading footwear retailers. With a clear vision, he focused on product quality and introduced well-known brands like Mochi, Walkway, Metro Shoes, and Da Vinchi. His goal was to carve out a niche in India's affordable fashion footwear market. In 2007, Rakesh Jhunjhunwala, a renowned investor, acquired a 15% stake in Metro Brands, accelerating its growth. In December 2021, Rafique Malik took the company public by launching an IPO. Metro Brands is known for its brands such as Mochi, Walkway, Metro Shoes, Da Vinchi, and FitFlop.
Key Business Strategies
A key strategy has been to establish a strong presence across India by expanding retail operations. Under his astute guidance for over five decades, Metro Brands has become a formidable house of brands with 720 stores located across 164 cities in India. The company has a market capitalization of approximately $2.8 billion (Rs 23,000 crore). The company also put in a stock options plan for the management team.
Philanthropy
Specific philanthropy amounts are not readily available. However, Rafique Malik, through Metro Brands, supports various initiatives through the company's CSR activities, although specific monetary amounts are not easily accessible through online searches.