Indiantelevision.com Team

(19 March 2008 5:30 pm)

BANGALORE: Bollywood starlet Kangana Ranaut cut the tape to open footwear and garment brand Red Tape's second franchisee outlet in Bangalore today.

Owned by New Delhi-based Mirza International Ltd (MIL), the Red Tape brand has 38 outlets in India as well as in the US, UK, France, Germany, West Asia and South Africa.

MIL plans to up the number of outlets to 100 by the end of 2009, and further to 300 over the next four years. MIL assistant manager of retail operations Anurag Gupta said that MIL is a footwear exporter that has diversified last year into garments and apparel accessories, "to complete the 'mix and match' experience for the buyer."

"The customer can walk in and buy matching clothes and footwear from us. At present, we are targeting casual wear for the 18 to 35 years of age segment. We are likely to go in for formal wear too," added Gupta.

MIL has revenues of Rs 5 billion, of which Rs 650 million comes from India. The rest is through exports, with footwear being the major contributor to the overall revenue pie.