Tata Group–owned Trent is intensifying its focus on expanding and optimising its store portfolio as consumer sentiment in India shows gradual improvement, according to chief executive P Venkatesalu. The fashion retailer plans to continue adding stores in markets where it already has a strong presence in major cities, while also expanding into smaller towns in the current phase of growth.
Venkatesalu said consumer sentiment was neither overly optimistic nor pessimistic but was steadily improving, with the medium-term outlook remaining positive. He said the company’s strategy was centred on expanding reach and increasing its share of revenues by selectively raising store density across key markets, supported by a stronger customer proposition. He added that newer catchments would take time to mature in terms of fashion adoption and consumption intensity.
Trent has carried out one of the fastest store expansion programmes among Indian retailers, driven largely by its value fashion format Zudio, which has opened more than 700 stores over the past four years. Venkatesalu said the company would continue to expand in both existing and new geographies, noting that smaller markets would gradually develop over time.
The retailer’s approach mirrors strategies adopted by some of the world’s largest fashion players, including Spain’s Inditex, the owner of Zara and British retailer Primark, both of which have prioritised dense store networks in high-footfall locations to gain scale advantages with suppliers and property developers. Venkatesalu said Trent combined home-grown and expatriate talent but remained culturally focused on building a nimble and agile organisation capable of responding quickly to ground-level consumer signals and taking measured risks, which he described as essential to long-term success.
He said scale brought both complexity and advantages as the business expanded. The value retail segment, where Zudio operates, has seen intensified competition in recent quarters from players such as Reliance Retail, Shoppers Stop and Aditya Birla Fashion & Retail. At the same time, demand for clothing and lifestyle products has remained subdued for nearly two years.
Competitive pressures have also increased following the re-entry of Chinese online fast-fashion brand Shein into the Indian market last year through Reliance Retail, nearly five years after its ban. Since then, Trent’s share price has declined amid concerns over potential competition with Zudio.
Industry observers note that value retailers typically operate on thin margins, making store density critical for reducing last-mile logistics costs and enabling quicker replenishment and responsiveness to local fashion trends, particularly as growth slows.
Venkatesalu said the company recognised that growth was rarely linear and required constant adaptation. He said Trent would continue to evolve and pursue growth opportunities within the consumer sector, acknowledging that the business would look different in the years ahead as it responded to changing market dynamics.
