Zara India’s revenue from FY22 rises to Rs 1,815 cr; current income of R148.76 cr

0
1
 Zara India's revenue from FY22 rises to Rs 1,815 cr;  current income of R148.76 cr

“During the year under review, the Zara entity recorded revenues of Rs 1,815 crore,” said the annual report of Tata group retail arm Trent.

“The incremental store openings for Zara continue to be calibrated with focus on presence only in very high-quality retail spaces,” it said.

Inditex group of Spain has another similar association with Trent, which operates Massimo Dutti stores in India. It has also reported revenue growth of 43.9 per cent during FY22.

Zara competes with the likes of other foreign brands such as H&M, and UNIQLO in India.

Story Highlights

  • The Inditex group of Spain owns 51 per cent while Trent has 49 per cent in ITRIPL.

  • The entity for Zara currently operates 21 stores across 11 cities. There has been no increase in the number of stores in the last two years.

“The entity for Massimo Dutti operates 3 stores and recorded revenues of Rs 59 crore in FY22,” it said.

Massimo Dutti India Pvt Ltd had reported a profit of Rs 1.48 crore in FY22.

The business of both entities is essentially limited to the distribution of Zara and Massimo Dutti products in India. Both entities are required to source merchandise only from the Inditex Group. “Also, the choice of product and related specifications are at the latter’s discretion. Further, the entities are dependent on the Inditex group for permissions to use the said brands in India subject to its terms and specifications,” said Trent.