Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Red Tape analyses the brand by its strengths, weaknesses, opportunities & threats. In Red Tape SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Red Tape to benchmark its business & performance as compared to the competitors. Red Tape is one of the leading brands in the lifestyle and retail sector.
The article below lists the Red Tape SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Red Tape SWOT Analysis:
For Red Tape, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Red Tape Strengths
The strengths of Red Tape looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Red Tape :
1. Design of Red Tape shoes is the key differentiator and it has top class designers working on the designs in the fashion cities of the world
2. Since the parent company Mirza is the manufacturer also, it can enjoy better profit margins
3. Stringent international quality restrictions in manufacturing are followed by Red Tape shoes
4. An international brand with present across the US, UK, France, Germany, West Asia and South Africa. It has a retail presence in 50 countries with production facilities in over 26 countries
5. Exclusive Red Tape stores, hence the reach of red tape is now increasing
6. Contribution to environmental preservation and community wellbeing
Red Tape Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Red Tape SWOT Analysis:
1. Foray into apparel industry which already has a very tough competition means limited market share
2. Offers Lower profit margins to the multi- brand retailers than the local brands also
Red Tape Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Red Tape SWOT Analysis:
1. To leverage the success of Red Tape in shoes to apparel segment also and thus can make use of the extensive distribution channels that it is now creating.
2. To introduce independent sub brands catering to middle class customers without brand dilution
3. Red Tape can tap the youth, who are becoming more fashion conscious
4. Increasing disposable incomes
Red Tape Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Red Tape are as mentioned:
1. Foreign brands bring in more competition and hence can affect Red Tape's business
2. Local Brands with good designs and higher profit margins for retailers may result in lesser shelf space for Red Tape
3. Cheap imitations/fake products cause threat
Red Tape Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 10 competitors of Red Tape:
Red Tape offers unmatched quality, skilled craftsmanship and trendy footwear
Red Tape STP
People who want to look fashionable
All urban age groups who like fashion – Globally Young and Fashion Conscious Consumers in India
Red Tape is a Hi-fashion Lifestyle i.e. a premium lifestyle brand
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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