Trent, which owns Westside, Zudio, and Star Bazaar, has developed its company simulation within selling owned brands, and its CEO believes there is no reason to deviate from this distinctly unique program for the Tata Group retailing business just yet.
P Venkatesalu, CEO Trent said, “Our belief in our model is rising. Many of these decisions and practices are culturally based, which makes a difference.”
Revenues increased significantly over the last five years, reaching Rs. 8,242 crore in FY ’23 from Rs. 2,157 crore in FY ’18. Concurrently, net profit nearly quadrupled to Rs. 394 crore. Trent more than quadrupled in value 2023, outperforming the Nifty50’s 20 per cent gain. Over a two-year period, the stock nearly quadrupled, while the Nifty rose 27 per cent. Trent reached another milestone in December, becoming the sixth listed Tata Group business to cross Rs. 1 lakh crore in market valuation.
Trent is most likely the only retailer in the country competing with an entirely private-label assortment. Trent’s brands are not available on any other e-commerce site, with the exception of Tata platforms (Tata Neu/TataCliq).
Venkatesalu explained, “We will only be marketing our own brands in the fashion space. This has enabled us to experiment, learn, and discover what connects with customers. There are similar threads in everything we do, regardless if it is Westside, Zudio, or Star.”
The Zudio concept has proven popular with value-conscious customers, inspiring replication by other retailing companies. It now accounts for up to 30 per cent of overall income, up from 8 per cent a few years ago. The overall number of Westside and Zudio locations is expected to increase to 800 this year, up from 261 in 2020.
According to Noel Tata, the retailer has implemented the Trent strategy to the Star company and is seeing good consumer popularity, instilling a growing commitment to expand up this development engine in the food and grocery industry.
Trent has traditionally been slower to expand than other retail organizations since it is focused on a successful approach.
