Trent, the Tata group fashion retail powerhouse, has reduced its stake in two joint ventures that operate Zara and Massimo Dutti stores in India.
Trent cut its stake in the Zara entity from 49 per cent to 34.94 per cent in FY25, while
it reduced its shareholding from 49 per cent to 20 per cent in the Massimo Dutti joint venture. Both the Zara and Massimo Dutti brands belong to Spain’s Inditex, one of the world’s largest fast fashion retailers.
The Trent-Inditex JV, which operates 22 stores in 13 cities in India, posted a 2.2 per cent rise in income to ₹2,839.5 crore in FY25, while total comprehensive income rose to ₹299.47 crore, up 22.95 per cent.
The Massimo Dutti JV, that operates only three stores in India, posted a flat income of ₹101.23 crore in FY25, while comprehensive income rose to ₹10.19 crore.
Addressing shareholders, Trent managing director P. Venkatesalu said FY25 was again a relatively challenging year for retail in India.
“Consumers faced multiple headwinds, including elevated inflation levels that impacted discretionary spends.
“FY25 was again a relatively challenging year for retail in India. Consumers faced multiple headwinds, including elevated inflation levels that impacted discretionary spends,” he said.