The founding family of Indian footwear firm RedTape is exploring the sale of a majority or potentially full stake in the company, with private equity interest solicited from Blackstone and KKR, according to a report by Reuters citing unnamed sources familiar with the matter.
RedTape, launched in 1996, operates in a competitive segment alongside global brands such as Nike, Adidas, Bata India and Campus Activewear. The sector is projected to grow 11% annually to $21bn by 2028.
The Mirza family has...
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