I believe there is laser surgery that will get rid of the redness, but not get rid of the mark entirely. That sucks, because I still have light remains of stretch marks around my waist from when I got fat a while ago, and those are the worst. I also have some deep, red ones above and below my armpits (chest and lats).
If you are going out to a club and plan on taking off your shirt, there is probably some kind of cover-up product you can get that will take care of you for the night.