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Red Tape to expand as major fashion footwear & accesories brand
04 Apr '06
2 min read
Red Tape, footwear manufacturer and exporter and flagship brand of Mirza International plans to enter into women's footwear, men's fashion wear and accessories market.
It is also going ahead with the launching of a low-priced footwear brand, Nucleus, in the near future.
New additions in the product range is aimed at turning in to a major fashion brand; offering everything from footwear to apparel, said Rashid Mirza, Managing Director, Mirza International.
The Rs 250-crore footwear brand is undergoing discussions with apparel majors like Arvind Mills for its men's fashion line scheduled to be introduced by September, this year.
Introduction of women's line depends on the success achieved by menswear, Mirza informed.
The women's footwear collection with an investment of Rs80 crore is scheduled to enter the market by this month end.
Shoes priced between Rs2,000 and Rs3,000 is aimed at high-end user, Mirza said.
Red Tape supplies women's shoes to brands like Next, Debenhams, Clarks and Burtons in Europe and the US.
International markets contribute about Rs 200 crore to the company's turnover of Rs250 crore.
Mirza said the new brand Nucleus is positioned to cater to lower end for volumetric growth, and if successful, it will be made to achieve four times the sales of Red Tape, he said.
Nucleus range will be aimed at Tier-II towns priced between Rs 1,200-1,500.
Fashion line, women's wear range and the Nucleus brand will be supported by an advertising campaign.
The Red Tape footwear brand is endorsed by actor Salman Khan.
The company plans to open 50 exclusive domestic Red Tape outlets mainly in smaller towns during 2006, which will be doubled by 2007.
Mirza said, the brand will also be sold through shop-in-shop stores and about 1,200 multi-brand outlets.
It is also going ahead with the launching of a low-priced footwear brand, Nucleus, in the near future.
New additions in the product range is aimed at turning in to a major fashion brand; offering everything from footwear to apparel, said Rashid Mirza, Managing Director, Mirza International.
The Rs 250-crore footwear brand is undergoing discussions with apparel majors like Arvind Mills for its men's fashion line scheduled to be introduced by September, this year.
Introduction of women's line depends on the success achieved by menswear, Mirza informed.
The women's footwear collection with an investment of Rs80 crore is scheduled to enter the market by this month end.
Shoes priced between Rs2,000 and Rs3,000 is aimed at high-end user, Mirza said.
Red Tape supplies women's shoes to brands like Next, Debenhams, Clarks and Burtons in Europe and the US.
International markets contribute about Rs 200 crore to the company's turnover of Rs250 crore.
Mirza said the new brand Nucleus is positioned to cater to lower end for volumetric growth, and if successful, it will be made to achieve four times the sales of Red Tape, he said.
Nucleus range will be aimed at Tier-II towns priced between Rs 1,200-1,500.
Fashion line, women's wear range and the Nucleus brand will be supported by an advertising campaign.
The Red Tape footwear brand is endorsed by actor Salman Khan.
The company plans to open 50 exclusive domestic Red Tape outlets mainly in smaller towns during 2006, which will be doubled by 2007.
Mirza said, the brand will also be sold through shop-in-shop stores and about 1,200 multi-brand outlets.
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Ritesh Dodhia
Dodhia Synthetics Limited
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