Red Tape, a subsidiary of Mirza International, is likely to invest Rs 100 crore by end-December 2010 in order to treble the number of its exclusive outlets in India.
Of the total, the company intends to invest Rs 50 crore to expand its exclusive store chain across India. It plans to raise the total number of stores to 100 from the existing 35 stores.
Under the expansion plan, the main focus is expected to be on the metros and tier I markets.
Moreover, the company is likely to continue introducing new designs and models in the apparel segment, besides remaining focused on the footwear category.
Source : ProjectsToday
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