Mirza International – consistent performer but undervalues at present?

What is driving Mirza’s recent performance in shoes?

Sneakers. Just look at the google trend data for keyword “redtape sneakers”:-

Rising trendline since last 2 years or so. If you then check Amazon’s bestsellers for men’s sneakers, you see 3 or 4 SKUs by RedTape in the top 10 and many more in top 50. Their designs are good but reviews often complaint of quality. I guess they’ll need to fix that over some time.

Also sneaker market – how big is it? what’s the growth rate?

The sneaker industry in India grows larger every minute. In 2022, the revenue in the sneakers segment amounts to nearly $2.46 Billion USD and is said to witness a volume growth of about 20.5 per cent in 2023. – Deconstructing India’s Sneaker Culture – Luxebook

I guess over a medium / long term – a good question to ask RedTape is whether they intend to collaborate with any star for sneakers or do they wish to compete with resellers like Mainstreet Marketplace given the existing price points of RedTape (sub 2k).