After its success in India, Noel Tata-led Trent is considering opening retail stores abroad, starting with a flagship store in Dubai, according to insiders. This decision follows Zudio, one of Trent’s key brands, surpassing ₹7,000 crore in revenue in India.
Trent had previously focused on strengthening its domestic market but now aims to tap into the large Indian diaspora abroad. While there’s a possibility of partnering with an international company, this is still uncertain. CEO P Venkatesalu mentioned that it’s too early to provide specific details about the plans.
Industry experts believe Trent’s profitable business model gives it the confidence to expand globally. Over the past five years, Trent’s revenue has grown at a compound annual growth rate (CAGR) of 45%. In a market where many apparel companies are struggling, Trent continues to perform well.
In FY24, Trent’s net sales increased by 50% to ₹12,375 crore, and net profit rose nearly fourfold to ₹1,477 crore. This growth was driven by strong performance from Zudio stores and increased sales in categories like beauty, personal care, innerwear, and footwear.
In the March 2024 quarter, Trent’s Westside brand added 12 stores, bringing its total to 232, while Zudio opened 86 new stores, reaching 545 stores. Trent’s stock price increased by 192% in the past year and 305% over two years, outperforming the Sensex.
Trent has expanded its main formats—Westside, Zudio, and Star Bazaar. Westside and Zudio offer different products at various price points, with backend integration helping both brands grow. Trent’s products are sold exclusively on Tata’s e-commerce platforms, Tata Neu and TataCliq.
Zudio now contributes 30% to Trent’s total revenue, up from 8% a few years ago. The Star Bazaar business is also seeing strong customer interest in the food and grocery sector.
Trent has shown strong financial results, with a CAGR of 31% in revenue and 26% in profit over the past five years. Management views Trent as a platform to launch and grow new business ventures.
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