Redtape’s founding family is exploring a stake sale worth up to $509 million, appointing Ernst & Young as financial adviser. The promoters have reached out to global private equity giants Blackstone and KKR to gauge interest, signaling a major strategic move in India’s footwear and apparel sector.
Redtape, a leading Indian footwear and fashion brand, is preparing for a significant ownership transition as its founding family considers divesting a substantial stake. The move comes amid rising investor interest in India’s consumer and retail sectors, driven by strong domestic demand and expanding global reach.
Key highlights from the announcement include
-
Founders are seeking buyers for a stake sale valued up to $509 million.
-
Ernst & Young has been appointed as financial adviser to oversee the divestment process.
-
Global private equity firms Blackstone and KKR have been approached to explore interest.
-
The potential deal underscores growing investor appetite for India’s consumer and lifestyle brands.
-
Stake sale expected to provide capital for expansion and strengthen Redtape’s market positioning.
-
Industry experts view the move as part of a broader trend of consolidation and global investment in Indian retail.
The proposed divestment highlights Redtape’s ambition to leverage global partnerships while unlocking value for its promoters. If successful, the deal could mark one of the largest private equity-led investments in India’s fashion and footwear industry.
Sources: Reuters, Economic Times, Business Standard