Red Tape, the flagship brand of Mirza International Ltd, will soon add another feather to its cap by touching the 50-store mark in India. The brand’s 50th outlet will be opened at Subhash Chowk in Sonipat, Haryana, on January 18. Spread over an area of 700 sq.ft, it will offer over 200 designs of apparel and footwear.
Bolstered by reaching the half-century mark, the company now plans to take the store count to 200 in the next two years. “The company would open 50 new stores in 2011 and take the store count to 200 by 2012. These are going to be a mix of company owned and franchise stores where investment would vary from Rs.50-60 lakh per store. We also have our own brand platform, which can serve as an effective launch tool,” said Rashid Mirza, MD, Mirza International Ltd.
Besides the EBO format, Red Tape has its presence through shop-in-shops in leading department stores such as Shoppers Stop, Lifestyle and Central, among others.
– IndiaRetailing Bureau