Trent Limited

Last updated

Trent Limited
Company type Public
ISIN INE849A01020
Industry Retail
Founded1998;26 years ago (1998)
Headquarters
Mumbai, Maharashtra
,
India
RevenueIncrease2.svg₹8,213 crore (US$1.0 billion) (FY23) [1]
Increase2.svg₹554 crore (US$69 million) (FY23) [1]
Parent Tata Group
Divisions
  • Westside
  • Zudio
  • Star Bazaar
  • Zara (India)
Website trentlimited.com
westside.com

Trent Limited (portmanteau of Tata Retail Enterprise) is an Indian retail company, which is part of the Tata Group and based in Mumbai. Started in 1998, Trent owns and operates fashion and lifestyle retail formats such as Westside, Zudio and Utsa. The company also runs retail chains like Star Bazaar and Zara through joint ventures.

Contents

History

In 1998, Tata sold off their 50% stake in Lakmé Cosmetics to Hindustan Lever for ₹200 crore (US$48.46 million), and created Trent with the proceeds from the sale. Simone Tata, the chairperson of Lakmé, went on to head Trent. The company began operations after acquiring the only store of Littlewoods in Bangalore in 1998 and renamed it Westside. [2]

Trent operated only Westside stores until 2004, when it opened its first Star Bazaar hypermarket in Ahmedabad. [3] [4]

In 2005, Trent acquired a 76% controlling stake in Landmark Bookstores, [5] a Chennai-based privately owned books and music retailer, and completed 100% acquisition in April 2008. [6]

In 2007, Trent entered a franchisee agreement with Benetton Group to set up Sisley stores in India. [7] In 2008, Trent launched value fashion stores called Fashion Yatra. [8] However, by 2012, the company shut down all Fashion Yatra stores and later terminated its Sisley agreement in an effort to shelve loss-making ventures. [9]

In 2009, Trent and Inditex established a 49:51 joint venture to run Zara stores in India. [10] [11] Two years later, the two companies entered a similar agreement to open Massimo Dutti stores in India. [12]

In 2014, Tesco acquired a 50% stake in Star Bazaar for £85 million and became a joint venture partner. [13] [14] After the establishment of the joint venture, Star Bazaar started supermarket format Star Market and small convenience store format Star Daily, [15] but discontinued the latter by early 2018 [16] when it started its online grocery service called StarQuik. [17]

In 2016, Trent established a private label menswear chain called Zudio in the affordable segment, before expanding its offerings to include womenswear, kidswear and accessories. [18]

In 2019, Trent acquired a 51% stake in Booker India for ₹22 crore (US$3.12 million). [19] In 2020, Trent rebranded Landmark Bookstores as Xcite and Misbu, repositioning the format as a beauty and accessories retailer. [20]

Retail formats

Notable retail formats of Trent include:

NameNo. of stores
(as of 2023) [21] [22] 		TypeYear establishedNotes
Westside227Branded fashion apparel, footwear and accessories for men, women and children, along with home furnishings and decor.1998Wholly-owned
Zudio460Affordable fashion for men, women and children.2016Wholly-owned
Utsa17Contemporary ethnic apparel, beauty products and accessories.2018Wholly-owned
Star67Supermarket format offering groceries, daily essentials and general merchandise.200450:50 joint venture with Tesco
Zara 20 Fast-fashion retail chain.200949:51 joint venture with Inditex
Massimo Dutti 3Premium clothing retail chain.201149:51 joint venture with Inditex
Booker India 8 Cash and carry format for businesses and traders.201951:49 joint venture with Tesco

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References

  1. 1 2 "Trent net profit jumps 40 per cent to ₹105 crore in Q4". The Hindu Businessline. 28 April 2023. Retrieved 29 May 2023.
  2. ↑ "Noel Tata's decisions help Trent come out at the top". Business Today. Retrieved 21 February 2024.
  3. ↑ "Tata Trent's Westside opens 100th store in Bhubaneswar". Financial Express. Retrieved 21 February 2024.
  4. ↑ "Trent to launch value stores for apparel in next 6 months". Mint. Retrieved 21 February 2024.
  5. ↑ "Trent acquires 76% stake in Landmark for Rs 103.6 cr". The Hindu Business Line. 31 August 2005. Retrieved 23 February 2011.
  6. ↑ "Trent buys out Landmark promoter". The Hindu Business Line. 1 May 2008. Retrieved 23 February 2011.
  7. ↑ "Trent ties up with Benetton to promote Sisley brand". The Economic Times. 18 September 2007. Retrieved 21 February 2024.
  8. ↑ "Trent launches new apparel format 'Fashion Yatra'". The Economic Times. Retrieved 21 February 2024.
  9. ↑ "Trent closing stores in value fashion chain". Business Standard. Retrieved 21 February 2024.
  10. ↑ "Trent forms JV with Inditex to promote Zara stores". The Economic Times. 5 February 2009. Retrieved 21 February 2024.
  11. ↑ "For Tata's Trent, Zara is just a 'financial investment'". Business Standard. Retrieved 21 February 2024.
  12. ↑ "Trent-Inditex to bring Massimo Dutti to India". Business Standard. Retrieved 21 February 2024.
  13. ↑ "Tesco forms JV with Trent for multi-brand retail in India". Business Standard. Retrieved 21 February 2024.
  14. ↑ "Tesco completes JV with Trent; first foreign supermarket chain to bring FDI in multi-brand retail". The Economic Times. 5 June 2014. Retrieved 21 February 2024.
  15. ↑ Agarwal, Sapna (20 December 2015). "After a lull, Star Bazaar plans store expansion". mint. Retrieved 21 February 2024.
  16. ↑ "Shutter down: Trent shuts all 20 Star Daily stores". Financial Express. 11 April 2018. Retrieved 1 March 2024.
  17. ↑ "Tata group's Trent revamps online grocery operations, launches portal". Business Standard. Retrieved 1 March 2024.
  18. ↑ "Noel Tata's masterstroke in retail". Business Standard. Retrieved 21 February 2024.
  19. ↑ "Trent to acquire 51% stake in Booker India". The Economic Times. 24 September 2019. Retrieved 21 February 2024.
  20. ↑ "The trend setter" (PDF). IIFL. Retrieved 21 February 2024.
  21. ↑ "Annual Report" (PDF). Trent Limited. Retrieved 21 February 2024.
  22. ↑ "PERFORMANCE HIGHLIGHTS Q3FY24" (PDF). BSE. Retrieved 21 February 2024.
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