Zara logs 40.4% revenue growth in India at Rs 2,562 cr, profit up 77.6%
Global fashion brand Zara, has posted a growth of 40.42 per cent in its India revenue at Rs 2,562.50 crore for FY23, according to the latest annual report of Trent Ltd. Its profit was also up 77.66 per cent to Rs 264.30 crore for the financial year ended on March 31, 2023. Inditex Trent Retail India Private Ltd (ITRIPL), a JV which is engaged in the operation of Zara stores in India, in FY22 reported a total income of Rs 1,824.82 crore and a profit of Rs 148.69 crore. "The incremental store openings for Zara continue to be calibrated with focus on presence only in very high-quality retail spaces," it said. ITRIPL is a 51:49 JV between Spain's Inditex, which owns luxury fashion brand Zara and Tata group's retail arm Trent Ltd. Zara, which competes with the likes of other foreign brands such as H&M and UNIQLO in India, operates 20 stores across 11 cities. However, in FY22 the entity was operating 21 stores. Inditex group of Spain has another similar 51:49 JV association with Trent15-05-2023
