In the fiscal year 2023, Trent revenues grew to Rs 82.13 billion while its profit after tax rose to Rs 5.55 billion. Boasting a remarkable 25.6 per cent compound annual growth rate (CAGR) over the last five years, along with a commendable dividend payout of 20 per cent, this growth trajectory reflects the exceptional leadership of Venkatesalu P, CEO and Executive Director.
Under the dynamic leadership of Venkatesalu P, Trent has experienced an impressive market capitalisation of Rs 1.45 trillion. His strategic prowess has propelled Trent to achieve substantial growth in both revenue and net profit, solidifying its position as a powerhouse in the retail sector.
Trent's retail portfolio comprises a diverse range of brands and concepts in the fashion and lifestyle space, including Westside, Zudio, Utsa, Misbu, and Samoh.
As a testament to Venkat's adept execution of innovative concepts that deliver value to stakeholders, analysts' subsequent reports have confirmed the resounding success of Trent's retail brands with Zudio shining brightly as a beacon of affordable fast fashion
Zudio has excelled not just in offering a compelling customer value proposition, but also swiftly launching trendy collections, leveraging robust customer insights, implementing vertical integration to streamline the product creation life cycle, establishing a robust retail brand within a relatively short period and creating a competitive advantage through offline stores in an e-commerce-driven landscape.
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Resort wear and swimwear brand, Verandah has attained the prestigious Butterfly Mark certification for its dedication to the well-being of the planet.
The certification places Verandah among the esteemed ranks of global luxury giants like Louis Vuitton, Christian Dior, and Tom Ford Beauty, all recognised by Positive Luxury, a UK-based organisation specialising in sustainability within the luxury industry.
Anjali Patel Mehra, Founder, Verandah, explains, the brand embarked on a comprehensive evaluation spanning environmental impact, social responsibility, governance practices, and innovative initiatives.
The assessment covered an extensive criterion including labor standards, fair trade practices, alignment with the United Nations Sustainable Development Goals (UNSDGs), sustainable sourcing methods, waste management strategies, and corporate social responsibility efforts.
Receiving the Butterfly Mark certification marks a significant milestone for Verandah, with reassessments scheduled every two years. The brand aims to continue to excel in all sustainability aspects and embracing best practices to further minimise their ecological footprint, adds Mehra.
Verandah soon plans to unveil two collections, Anjuna and Parra, named after two enchanting villages in Goa, These collections embody the essence of Goa, known not just for its beaches and music but also for its captivating landscapes, adds Mehra.
Iconic denim brand Lee launched a new women’s collection called ‘Denim Beyond Definition.’
Designed by couturier Suneet Varma, the collection features jackets, shirts, skirts, pants and dresses made from the denim fabric with unique embellishments. Targeting Gen-Z customers, the collection is priced between Rs 7,999 and Rs 16,999 and will be sold in Lee stores and online.
Collaborating with an Indian designer for the first time, Lee has designed its maiden collection in gold foil prints, plaid patterns, and metallic detailing. It aims to offers consumers a premium and unique product.
Not expecting high sales in the first season, Lee aims to use it to learn about his customers’ preferences and use that feedback to improve future collections.
The brand also plans to open 60 new stores in India by next year. It currently has 40 stores in the country. The brand’s products are currently sold in its exclusive stores, department stores, online marketplaces
India’s pioneering online custom-made shirt brand Bombay Shirt Company (BSS) has introduced a new range of premium tailor-made blazers at their latest retail store.
BSC recently inaugurated its 20th retail outlet in India. Located in Navi Mumbai, the new store is innovatively designed with traditional product racks being replaced with display boxes featuring mannequins showcasing each product category.
The store allows customers to browse through various fabric options for tailor-made shirts, blazers, jeans, chinos, and pants. They can also view their chosen customisations on a large screen. The store has in-house stylists to guide customers through the fabric selection and customisation process.
Established in 2012, Bombay Shirt Company is known for its meticulous customer service and unique in-store shopping experience. The brand has seven stores in Mumbai. Its new store in Navi Mumbai aims to minimise customers’ visual clutter and help them make an informed purchase decisions, says Akshay Narvekar, Founder and CEO.
Denim and casual wear brand Levi’s has expanded its brick-and-mortar presence in Rajasthan by opening first exclusive brand outlet in Ajmer. Located in the Mittal Mall in the city, the store houses a selection of apparel and accessories for men and women.
The store offers the ‘Denim for Life’ collection of classic jeans by Levi’s. Additionally, it also houses chinos, shirts, and tapered pants, etc. Shoppers can also select from a wide range of graphic t-shirts, casual separates, and more feminine designs for women such as denim maxi skirts.
Established in 1873 in the US, Levi’s is present in over 110 countries worldwide. The brand has several exclusive brand outlets in India besides a dedicated e-commerce store.
Sportswear brand Puma India has collaborated with the IPL team ‘Delhi Players’ to launch a new campaign to connect with the team’s passionate fanbase.
Titled ‘Delhi Save the Light’, the campaign stars cricketers Ishant Sharma, Yash Dhull and Rishab Pant. It portrays Delhi’s strong-willed nature, says Dhull. Shreya Sachdev, Marketing Head, Puma India, believes, the campaign celebrates the unwavering spirit of Delhities.
The campaign enables Puma India, the official kit partner for Delhi Capitals to not only spread the excitement of cricket across the country but also boost sales of their merchandise by riding the wave of the team's strong fanbase.
Having become a zero-debt company, textiles to engineering conglomerate, Raymond Group, plans to expand its apparel business.
Amit Agarwal, Chief Financial Officer, reveals, last year, the brand expanded its retail presence by adding over 200 stores. It now plans to expand by adding 400-500 more stores, reaching a total of 2,000 within the next three years.
Raymond currently generates revenues of Rs 1,500 crore from its apparel business. Bolstered by renowned brands such as Raymond Ready To Wear, Park Avenue, and ColorPlus, the group aims to capture a larger share in India’s apparel market, states Agarwal.
Predominantly a formal clothing brand, Raymond plans to broaden its market reach by infusing casualisation and premiumisation into its product offerings. The company plans to augment production capacity to 11 million pieces with an investment of Rs 200 crore within the next 18 months. It will primarily expand its capacity in Bengaluru, with some capacity enhancements in Ethiopia.
Leading footwear and accessories specialty retailers, Metro Brands (MBL), has extended its partnership with Crocs India (CIL), a global leader in innovative casual footwear. The two companies have signed a retail partnership agreement, granting MBL exclusive rights to operate and own Crocs ‘full price’ stores across the western and southern states in India and increase in residual balance term of the contract.
Further, the agreement gives MBL the right to continue, renew and operate all existing Crocs stores currently operational in Northern & Eastern states of India.
Initiated in 2008, the partnership introduced Crocs' products within MBL multi-brand outlets. In 2015, both the the brands inked a nonexclusive retail license agreement authorising MBL to distribute Crocs products in India, aligning seamlessly with the MBL mission of bringing global brands to India and offering a dynamic retail experience to its customers. Today, MBL operates over 200 exclusive stores of Crocs across India.
Sumit Dhingra, Vice President & General Manager, India, Middle East & Africa, Crocs says, the brand’s partnership with Metro Brands has played a pivotal role in translating its unique value proposition of self-expression, personalisation and iconic comfort – into a retail experience that resonates deeply with Indian consumers.
Nissan Joseph, CEO, Metro Brands adds, the company’s partnership with Crocs has been extraordinary, and it is poised for further growth in advancing Crocs' presence in our country.
With global luxury brands turning their attention to India, and indigenous luxury labels venturing into international markets, the luxury sector is poised to play a pivotal role in India's aspiration to position itself as a developed nation by 2047.
However, navigating the luxury business terrain demands steadfast relationship-building, time, and infrastructure support. To explore India’s potential to keep pace with these demands, Business Standard organised a two-day national
two-day national summit titled ‘BS Manthan,’ on Mar 27 and 28 at Bharat Mandapam, New Delhi.
Held under the theme ‘Ramp to resorts to retail: How can luxury in 2047 redefine a developed India,’ the summit comprised forward thinking discussions by industry leaders and observers. These leaders envisioned the luxury industry's trajectory over the next 23 years.
According to ‘The State of Fashion 2024’ report by The Business of Fashion and McKinsey & Company, India is deemed one of the most promising destinations for luxury consumption globally. This sentiment was echoed by Benedicte Epinay, CEO, Comité Colbert, France's luxury association, citing a 75 per cent increase in the desire for luxury products. Pushpa Bector, Senior Executive Director, DLF Retail, termed the next decade as ‘the decade of retail for India.’
Industry stalwarts like Kapil Chopra, Founder, The Postcard Hotel, and Abheek Singhi, Managing Director, Boston Consulting Group, dissected the luxury sector's potential to propel India towards its development goals. Featuring luminaries such as Alexis de Ducla, Mathieu Lustrerie and Nikhil Sethi, KPMG India, the panel aimed to catalyse ideas among policymakers, government officials, industry leaders, and innovative entrepreneurs attending the summit.
Renowned menswear brand Celio has partnered with Indian Premier League team (IPL), Mumbai Indians to launch an exclusive merchandise collection.
Featuring a captivating assortment offering everything from stylish sweatshirts to trendy t-shirts in shades of grey, sky blue, and vibrant multi-colors, the meticulously designed collection reflects the fervor and vibrancy of both the Mumbai Indians franchise and the city of Mumbai itself.
Slated to be available through various channels, including Celio's official website, select Celio stores nationwide, the MI Shop, prominent online marketplaces, leading departmental stores, and esteemed multi-brand outlets, the collection enables fans to display their allegiance to the Mumbai Indians team, says Satyen Momaya, CEO, Celio,
The designs of this chic and fashionable collection encapsulate the spirit of Mumbai, showcasing captivating visuals that truly capture the essence of the city, he adds.
A subsidiary of Tata Group’s Trent Ltd, Westside expanded its South India operations by launching three new stores in Kalamassery (Kochi), Velachery (Chennai), and Hesaraghatta (Bengaluru).
These newly launched stores retail an extensive range of Westside's 22 in-house brands including Bombay Paisley, Vark, Noun, LOV, Gia, Noun Men, ETA, Studio West, Westside Kidwear, Westside Footwear and Westside Home.
They sell various categories including womenswear, menswear, kidswear, footwear, lingerie, cosmetics, perfumes, accessories, and home furniture.
Raja Kasim, Regional Head, Trent describes the new stores as ‘ultimate fashion destinations’ tailored to meet every style need.
Established in 1998, Westside has been steadily expanding its footprint. By April 2022, the brand opened 200 stores across India. It currently operates 231 stores across the country.
In addition to Westside, Tata Trent manages several other apparel brands including Zudio, Utsa, and Samoh. They also oversee the beauty, accessories, and decor brand Misbu, as well as the hypermarket and supermarket chain Star. Furthermore, the company has joint ventures with Spain’s Inditex SA, operating Zara and Massimo Dutti labels in India.
Metro Brands (MBL) has renewed its partnership with Crocs India with notable adjustments to the agreement terms. The renewed agreement gives Metro Brands exclusive rights to own and operate Crocs ‘full price’ stores across the western and southern states of India along with an extension of the contract's residual balance term.
Additionally, the agreement retains MBL’s rights to maintain, renew, and operate all existing stores currently operational in the Northern and Eastern states.
This renewal marks the evolution from the previous Non-Exclusive Retail License Agreement signed in April 2015 between the two companies, effectively superseding it.
Launched in 2008, the partnership between MBL and Crocs India began with the introduction of Crocs' products within MBL's multi-brand outlets. Subsequently, in 2015, the companies entered a non-exclusive retail license agreement, allowing MBL to distribute Crocs products in India. Presently, MBL operates over 200 exclusive Crocs stores.
Commending MBL’s role in enhancing Croc’s presence in India, Sumit Dhingra, VP and General Manager, India, Middle East, and Africa emphasised their contribution in creating a retail experience resonating deeply with Indian consumers.
Besides Crocs, Metro Brands also boasts an array of Indian labels like Metro Shoes, Mochi, Walkway, and international brands such as Crocs, Fila, and FitFlop. Additionally, the company recently partnered with the US-based footwear giant Foot Locker.
India's premier homegrown fashion brand, BIBA unveiled its latest summer collection, themed ‘Har Nazar Mein Kuch Naya,’ at its flagship store in Bhubaneswar, Odisha. This unveiling marked yet another significant milestone in BIBA's journey of bringing unrivaled fashion to the heart of India.
The launch event was graced by the esteemed Odia celebrity, Archita Sahu, renowned for her achievements, including being the 1st runner-up in Femina Miss India. During the event, patrons got a unique opportunity to be styled by the guest celebrity, who also shared valuable fashion insights.
As the summer season approaches, BIBA presents a vibrant tapestry of colors, intricate patterns, and effortless styles in its latest collection. Each ensemble is meticulously crafted to tell a distinct story, capturing the essence of summer adventures.
This season, BIBA transcends mere presentation, offering a celebration of novelty and diversity in fashion. From chic contemporary designs to timeless classics, the Summer Collection 2024 promises to cater to the varied tastes and preferences of fashion enthusiasts.
With the grand unveiling of the Summer Collection 2024, BIBA invites customers to explore new style horizons. The latest collection showcases an exquisite array of ensembles, from timeless salwar-kameez dupattas to versatile kurta sets, skirts, and more, catering to the discerning tastes of Bhubaneswar's fashion-forward clientele.
Siddharath Bindra, Managing Director, BIBA, says, the collection aims to make customers’ visits to a BIBA store a delightful experience and allow them to explore latest trends, indulge in timeless classics, and find pieces that resonate with their individual style.
With 6 stores in Bhubaneshwar and 10 stores across Odisha, BIBA is confident of receiving a fantastic response from consumers in the state. BIBA's relentless pursuit of exploring business potential in the rapidly growing Indian market has earned it a niche position in the retail apparel segment.