Tata Trent to set up trend-focussed Zara-like apparel empire, but at half the price; plans to open 40 outlets every year
Last week, Trent had announced plans to raise up to Rs 1,550 crore through a combination of issuance of shares to its promoter Tata Sons on a preferential basis and other options, to fund its expansion.
-
Tata's retail arm, Trent, has fine-tuned its local supply chain to deliver extremely fast fashion
-
Trent chairman Noel Tata said the retail hand of Tata plans to open 40 outlets of Westside chain every year
-
Last week, Trent had announced plans to raise up to Rs 1,550 crore to fund its expansion
The Tata Group's retail chain, Trent is planning to set up its own apparel empire like its partner Zara. But, unlike Zara, it will retail apparel at half the price. Trent has been Inditex SA’s partner running its flagship store Zara in India.
Trent has now fine-tuned its local supply chain to deliver extremely fast fashion which can get runway styles to customers in just 12 days, the same compressed timeline that’s turned Inditex into a $90 billion empire, reported Business Standard.
Trent is planning to open 40 outlets of its flagship Westside chain every year and hundreds of its mass-market Zudio stores, where nothing costs more than $15 across India, the report said quoting Noel Tata, chairman.
The logo of a Zara store, an Inditex brand, is seen in central Madrid, Spain. Image: Reuters
Related Articles
Trent started hiring employees to grab the upcoming trends and launch 300 new styles across its stores each week, said a report in Express Journal.
Last week, Trent had announced plans to raise up to Rs 1,550 crore in the current financial year through a combination of issuance of shares to its promoter Tata Sons on a preferential basis and other options, to fund its expansion.
The company said the total amount to be raised from the issuance of shares to the promoter is about Rs 950 crore.
Trent Ltd said it is witnessing positive traction for its lifestyle retail concepts and consequently pursuing a substantially accelerated growth programme across the Westside, Zudio and Star formats.
On Monday, Trent Ltd said it was seeking shareholders approval to allot up to 2.46 crore equity shares to Tata Sons.
Trent plans to raise funds through preferential allotment of shares to promoter Tata Sons to finance expansion and reduce debt.
The shareholders are requested to "record their assent (for) or dissent (against) in the postal ballot form and return the same" by Wednesday, 24 July 2019, Trent Ltd said in a BSE filing.
According to the Tata Enterprise owned firm, the company will utilise the proceeds from the preferential issue to fund the various related growth plans, projects and future investments.
— With PTI inputs
also read
Starry Nights: The winners of the Milky War Photographer of the Year contest
These 10 images will definitely make you go wow. A look at the winning photographs from the 2023 Milky Way Photographer Of The Year contest
Tidying Up Space: Scientists are experimenting with Star Trek-like weapon to clean up space debris
In a development that looks straight out a Sci-Fi film or TV show, scientists at the University of Colorado, Boulder, are trying to make a "tractor beam" or a machine that uses magnetic force to push or pull objects without touching them, to clear up space debris
WATCH: Pro-Khalistan slogans raised at Golden Temple on 39th anniversary of Operation Bluestar
Security was beefed up in Amritsar for the anniversary of Operation Bluestar. The army had carried out Operation Bluestar in June 1984 to flush out militants from the Golden Temple