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Trent Limited

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Trent Limited
Company typePublic
ISININE849A01020
IndustryRetail
Founded1952; 72 years ago (1952) (as Lakmé Limited)[1]
1998; 26 years ago (1998) (as Trent Limited)[1]
Headquarters
Mumbai, Maharashtra
,
India
Key people
Noel Tata
(Chairman)
P. Venkatesalu
(CEO)[2]
RevenueIncrease ₹12,664 crore (US$1.5 billion) (FY24)[3]
Increase ₹1,477 crore (US$180 million) (FY24)[3]
Number of employees
25,277 (March 2024)[4]
ParentTata Group
Divisions
  • Westside
  • Zudio
  • Star Bazaar
  • Zara (India)
Websitetrentlimited.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.

History

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In 1998, the Tatas 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 in 1998, after acquiring the only store of Littlewoods in Bangalore and renaming the store "Westside".[5]

Trent operated only Westside stores until 2004, when it opened its first Star Bazaar hypermarket in Ahmedabad.[6][7]

In 2005, Trent acquired a 76% controlling stake in Landmark Bookstores,[8] a Chennai-based privately owned books and music retailer, and completed 100% acquisition in April 2008.[9]

In 2007, Trent entered a franchisee agreement with Benetton Group to set up Sisley stores in India.[10] In 2008, Trent launched value fashion stores called Fashion Yatra.[11] 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.[12]

In 2009, Trent and Inditex established a 49:51 joint venture to run Zara stores in India.[13][14] Two years later, the two companies entered a similar agreement to open Massimo Dutti stores in India.[15]

In 2014, Tesco acquired a 50% stake in Star Bazaar for £85 million and became a joint venture partner.[16][17] After the establishment of the joint venture, Star Bazaar started supermarket format Star Market and small convenience store format Star Daily,[18] but discontinued the latter by early 2018[19] when it began its online grocery service called StarQuik.[20]

In 2015, Trent entered into a partnership with Sonae to open and operate Sport Zone outlets in India, but the venture was later dissolved.[21][22]

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.[23]

In 2019, Trent acquired a 51% stake in Booker India for ₹22 crore (US$3.12 million).[24] After the outbreak of COVID-19, Trent repositioned Landmark Bookstores as a beauty and accessories retailer called Misbu. In 2023, the company started occasionwear chain, Samoh.[22]

Retail formats

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Retail formats of Trent:

Name No. of stores
(as of 2024)[4] 		Type Year established[25] Notes
Westside 232 Branded fashion apparel, footwear and accessories for men, women and children, along with home furnishings and decor 1998 Wholly-owned
Zudio 545 Affordable fashion for men, women and children 2016 Wholly-owned
Utsa 22 Contemporary ethnic apparel, beauty products and accessories 2019 Wholly-owned
Misbu 10 Beauty and fashion accessories 2022 Wholly-owned
Samoh 3 Indian occasionwear 2023 Wholly-owned
Star 66 Supermarket format offering groceries, daily essentials and general merchandise 2004 50:50 joint venture with Tesco
Zara 23 Fast-fashion retail chain 2009 49:51 joint venture with Inditex
Massimo Dutti 3 Premium clothing retail chain 2011 49:51 joint venture with Inditex
Booker India 8 Cash and carry format for businesses and traders 2019 51:49 joint venture with Tesco

References

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  1. ^ a b "About Us2.0". Trent Limited. Retrieved 17 May 2024.
  2. ^ Vijayraghavan, Kala; Mascarenhas, Rajesh (3 June 2024). "Trent plans global retail push after acing it in India". The Economic Times. Retrieved 17 June 2024.
  3. ^ a b "Trent Q4 FY24 results" (PDF).
  4. ^ a b "Annual Report" (PDF). Trent Limited. Retrieved 16 June 2024.
  5. ^ "Noel Tata's decisions help Trent come out at the top". Business Today. Retrieved 21 February 2024.
  6. ^ "Tata Trent's Westside opens 100th store in Bhubaneswar". Financial Express. Retrieved 21 February 2024.
  7. ^ "Trent to launch value stores for apparel in next 6 months". Mint. Retrieved 21 February 2024.
  8. ^ "Trent acquires 76% stake in Landmark for Rs 103.6 cr". The Hindu Business Line. 31 August 2005. Retrieved 23 February 2011.
  9. ^ "Trent buys out Landmark promoter". The Hindu Business Line. 1 May 2008. Retrieved 23 February 2011.
  10. ^ "Trent ties up with Benetton to promote Sisley brand". The Economic Times. 18 September 2007. Retrieved 21 February 2024.
  11. ^ "Trent launches new apparel format 'Fashion Yatra'". The Economic Times. Retrieved 21 February 2024.
  12. ^ "Trent closing stores in value fashion chain". Business Standard. Retrieved 21 February 2024.
  13. ^ "Trent forms JV with Inditex to promote Zara stores". The Economic Times. 5 February 2009. Retrieved 21 February 2024.
  14. ^ "For Tata's Trent, Zara is just a 'financial investment'". Business Standard. Retrieved 21 February 2024.
  15. ^ "Trent-Inditex to bring Massimo Dutti to India". Business Standard. Retrieved 21 February 2024.
  16. ^ "Tesco forms JV with Trent for multi-brand retail in India". Business Standard. Retrieved 21 February 2024.
  17. ^ "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.
  18. ^ Agarwal, Sapna (20 December 2015). "After a lull, Star Bazaar plans store expansion". mint. Retrieved 21 February 2024.
  19. ^ "Shutter down: Trent shuts all 20 Star Daily stores". Financial Express. 11 April 2018. Retrieved 1 March 2024.
  20. ^ "Tata group's Trent revamps online grocery operations, launches portal". Business Standard. Retrieved 1 March 2024.
  21. ^ "Portugal's Sonae bets on India for sporting retail growth". Reuters. Retrieved 18 March 2024.
  22. ^ a b "The trend setter" (PDF). IIFL. Retrieved 21 February 2024.
  23. ^ "Noel Tata's masterstroke in retail". Business Standard. Retrieved 21 February 2024.
  24. ^ "Trent to acquire 51% stake in Booker India". The Economic Times. 24 September 2019. Retrieved 21 February 2024.
  25. ^ "PERFORMANCE HIGHLIGHTS Q3FY24" (PDF). BSE. Archived from the original (PDF) on 21 February 2024. Retrieved 21 February 2024.
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