RedTape Acquires SPRANDI, Bets on India Growth

CONSUMER-PRODUCTS
Whalesbook Logo
AuthorIshaan Verma|Published at:
RedTape Acquires SPRANDI, Bets on India Growth
Overview

RedTape Ltd announced the acquisition of the global sports footwear brand SPRANDI for India, Nepal, Bhutan, and Sri Lanka. The company plans to launch SPRANDI in India soon, targeting substantial sales volumes through online and retail channels. This strategic move follows RedTape's robust third-quarter performance, which reported a 43.2% increase in net profit to ₹104.5 crore and a 19% rise in revenue to ₹786.5 crore.

Instant Stock Alerts on WhatsApp

Used by 10,000+ active investors

1

Add Stocks

Select the stocks you want to track in real time.

2

Get Alerts on WhatsApp

Receive instant updates directly to WhatsApp.

  • ✓Quarterly Results
  • ✓Concall Announcements
  • ✓New Orders & Big Deals
  • ✓Capex Announcements
  • ✓Bulk Deals
  • ✦And much more
Add StocksGet it on Google PlayDownload on the App Store

SPRANDI Brand Acquisition and India Launch

RedTape Ltd is expanding its global reach by acquiring the well-known sports footwear brand, SPRANDI. This deal grants RedTape exclusive rights for SPRANDI across India, Nepal, Bhutan, and Sri Lanka, tapping into the growing athletic footwear market in these regions. The company plans to launch SPRANDI soon through online channels and its retail network, aiming for significant sales volumes.

Q3 Financials Support Strategic Move

The acquisition is backed by RedTape's robust financial performance. In the third quarter, net profit jumped 43.2% year-on-year to ₹104.5 crore. Revenue increased 19% to ₹786.5 crore, while earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 36% to ₹170.6 crore.

Get stock alerts instantly on WhatsApp

Quarterly results, bulk deals, concall updates and major announcements delivered in real time.

Add Stocks
Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.