It has been on the watchlist for a year now,
Tracking it since it was around 140 levels.
One of friends bought it around those levels and suggested me the same. I read about the co, about its management, somehow wasnt convinced to take an entry.
And since then, it has been on a run touching life time high and I have invested more time getting more info about the co.
Lately the stock is taking a breather and I am waiting for the right time now to take the first entry.
November last, my friend and I happened to visit one of the Redtape stores in tier 3/4 city ,
Plan was to buy new shoes.
We enter the store, and see everything but shoes(they had different floor for the shoe segment)
We ended up buying good quality winter jacket and other few accessories, not the shoes.
While at the store I found an amazing guy(belonged to the store) who happened to be aware about the financial for the store and was not reluctant to share the same.
When asked, he shared
“We have closed Oct month with ** sales, and plan to close Nov sales with ** sales”
(Month to month growth around : 60-65%)
I immediately asked what was the sales for last year Nov.
"the last year sales for Nov month was around *"
(Expecting a growth of 20-25 on last Nov to this Nov)
He also mentioned this year November will be their best month, they might not have similar Dec month.
I am not sure if Red tape could become no 1 brand in Tier 1 cities but definitely can penetrate tier 3,4 cities more compared to other brands
I still find Mirza international to be a risky bet,
Waiting for right levels(imo)
First entry level would be around 210, happy to miss if it doesnt touch these levels
Not a great management in the past,
But the growth story looks in cards,
Disclaimer : not invested