Trent Limited

{{Infobox company

| name = Trent Limited

| logo = Trent Limited.svg

| logo_size = 200px

| image = {{CSS image crop

|Image = Insidelulu1.jpg

|bSize = 360

|cWidth = 245

|cHeight = 150

|oTop = 20

|oLeft= 0

|Location=center

}}

| image_caption = Westside store in Thiruvananthapuram

| type = Public

| traded_as = {{ubl|{{NSE|TRENT}}|{{BSE|500251}}|NSE NIFTY 50 constituent|BSE SENSEX constituent}}

| foundation = {{start date and age|1952}} (as Lakmé Limited){{cite web |title=About Us2.0 |url=https://trentlimited.com/pages/copy-of-about-us2-0 |website=Trent Limited |access-date=17 May 2024 |language=en}}

----

{{start date and age|1998}} (as Trent Limited)

| location_city = Mumbai, Maharashtra

| location_country = India

| key_people = {{ubl|Noel Tata {{small|(Chairman)}}|P. Venkatesalu {{small|(CEO)}}{{cite news |last1=Vijayraghavan |first1=Kala |last2=Mascarenhas |first2=Rajesh |title=Trent plans global retail push after acing it in India |url=https://economictimes.indiatimes.com/industry/services/retail/trent-plans-global-retail-push-after-acing-it-in-india/articleshow/110645533.cms |access-date=17 June 2024 |work=The Economic Times |date=3 June 2024}}}}

| num_employees = 25,277 (March 2024){{cite web |title=Annual Report |url=https://docs.trent-tata.com/TrentLimited/AGM%20%20documents/2023-24/Seventy%20Second%20Annual%20Report%20FY%202023-24.pdf |publisher=Trent Limited |access-date=16 June 2024}}

| industry = Retail

| locations =

| parent = Tata Group

| ISIN = INE849A01020

| revenue = {{up}} {{INRConvert|17353|c}} (FY2025)

| operating_income = {{up}} {{INRConvert|2029|c}} (FY2025)

| net_income = {{up}} {{INRConvert|1534|c}} (FY2025)

| homepage = {{url|https://trentlimited.com}}

| footnotes = Financials {{as of|2025|03|31|lc=y|df=yes}}.{{cite news |title=Trent Q4 FY25 results|url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/e1982b0d-f653-4ad7-b04e-94b469776b39.pdf |language=en |publisher=Trent Limited |access-date=3 May 2025}}

}}

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

In 1998, the Tatas sold off their 50% stake in Lakmé Cosmetics to Hindustan Lever for {{INRConvert|200|c|year=1998|mode=historical}}, 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".{{cite news |title=Noel Tata's decisions help Trent come out at the top |url=https://www.businesstoday.in/magazine/cover-story/story/the-tortoise-that-came-in-from-the-cold-244602-2009-10-23 |access-date=21 February 2024 |work=Business Today}}

Trent operated only Westside stores until 2004, when it opened its first Star Bazaar hypermarket in Ahmedabad.{{cite news |title=Tata Trent's Westside opens 100th store in Bhubaneswar |url=https://www.financialexpress.com/business/industry-tata-trents-westside-opens-100th-store-in-bhubaneswar-423450/ |access-date=21 February 2024 |work=Financial Express}}{{cite news |title=Trent to launch value stores for apparel in next 6 months |url=https://www.livemint.com/Companies/C20aCIsqqqP5QBi5PxzaFO/Trent-to-launch-value-stores-for-apparel-in-next-6-months.html |access-date=21 February 2024 |work=Mint}}

In 2005, Trent acquired a 76% controlling stake in Landmark Bookstores,{{cite web|url=http://www.thehindubusinessline.com/2005/08/31/stories/2005083101750800.htm |title=Trent acquires 76% stake in Landmark for Rs 103.6 cr |newspaper=The Hindu Business Line |date=2005-08-31 |accessdate=2011-02-23}} a Chennai-based privately owned books and music retailer, and completed 100% acquisition in April 2008.{{cite web|url=http://www.thehindubusinessline.in/bline/2008/05/01/stories/2008050150190500.htm |title=Trent buys out Landmark promoter |newspaper=The Hindu Business Line |date=2008-05-01 |accessdate=2011-02-23}}

In 2007, Trent entered a franchisee agreement with Benetton Group to set up Sisley stores in India.{{cite news |title=Trent ties up with Benetton to promote Sisley brand |url=https://economictimes.indiatimes.com/industry/services/retail/trent-ties-up-with-benetton-to-promote-sisley-brand/articleshow/2379980.cms |access-date=21 February 2024 |work=The Economic Times |date=18 September 2007}} In 2008, Trent launched value fashion stores called Fashion Yatra.{{cite news |title=Trent launches new apparel format 'Fashion Yatra' |url=https://economictimes.indiatimes.com/trent-launches-new-apparel-format-fashion-yatra/articleshow/3620403.cms |access-date=21 February 2024 |work=The Economic Times}} 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.{{cite news |title=Trent closing stores in value fashion chain |url=https://www.business-standard.com/article/companies/trent-closing-stores-in-value-fashion-chain-112020800065_1.html |access-date=21 February 2024 |work=Business Standard}}

In 2009, Trent and Inditex established a 49:51 joint venture to run Zara stores in India.{{cite news |title=Trent forms JV with Inditex to promote Zara stores |url=https://economictimes.indiatimes.com/industry/services/retail/trent-forms-jv-with-inditex-to-promote-zara-stores/articleshow/4080722.cms |access-date=21 February 2024 |work=The Economic Times |date=5 February 2009}}{{cite news |title=For Tata's Trent, Zara is just a 'financial investment' |url=https://www.business-standard.com/article/companies/for-tata-s-trent-zara-is-just-a-financial-investment-115071000010_1.html |access-date=21 February 2024 |work=Business Standard}} Two years later, the two companies entered a similar agreement to open Massimo Dutti stores in India.{{cite news |title=Trent-Inditex to bring Massimo Dutti to India |url=https://www.business-standard.com/article/companies/trent-inditex-to-bring-massimo-dutti-to-india-111072300078_1.html |access-date=21 February 2024 |work=Business Standard}}

In 2014, Tesco acquired a 50% stake in Star Bazaar for £85 million and became a joint venture partner.{{cite news |title=Tesco forms JV with Trent for multi-brand retail in India |url=https://www.business-standard.com/article/companies/tesco-forms-jv-with-trent-for-multi-brand-retail-in-india-114032100826_1.html |access-date=21 February 2024 |work=Business Standard}}{{cite news |title=Tesco completes JV with Trent; first foreign supermarket chain to bring FDI in multi-brand retail |url=https://economictimes.indiatimes.com/industry/services/retail/tesco-completes-jv-with-trent-first-foreign-supermarket-chain-to-bring-fdi-in-multi-brand-retail/articleshow/36050618.cms |access-date=21 February 2024 |work=The Economic Times |date=5 June 2014}} After the establishment of the joint venture, Star Bazaar started supermarket format Star Market and small convenience store format Star Daily,{{cite news |last1=Agarwal |first1=Sapna |title=After a lull, Star Bazaar plans store expansion |url=https://www.livemint.com/Companies/5ZSRjZxrno5V1UDtUaBmdI/After-a-lull-Star-Bazaar-plans-store-expansion.html |access-date=21 February 2024 |work=mint |date=20 December 2015 |language=en}} but discontinued the latter by early 2018{{cite news |title=Shutter down: Trent shuts all 20 Star Daily stores |url=https://www.financialexpress.com/business/industry-shutter-down-trent-shuts-all-20-star-daily-stores-1128815/ |access-date=1 March 2024 |work=Financial Express |date=11 April 2018 |language=en}} when it began its online grocery service called StarQuik.{{cite news |title=Tata group's Trent revamps online grocery operations, launches portal |url=https://www.business-standard.com/article/companies/tata-group-s-trent-revamps-online-grocery-operations-launches-portal-118011500051_1.html |access-date=1 March 2024 |work=Business Standard}}

In 2015, Trent entered into a partnership with Sonae to open and operate Sport Zone outlets in India, but the venture was later dissolved.{{cite news |title=Portugal's Sonae bets on India for sporting retail growth |url=https://www.reuters.com/article/idUSL8N0XO35Z/ |access-date=18 March 2024 |work=Reuters}}

In 2016, Trent opened its first Zudio store in Bangalore.{{cite news |title=Noel Tata's masterstroke in retail |url=https://www.business-standard.com/opinion/columns/noel-tata-s-masterstroke-in-retail-123082801246_1.html |access-date=21 February 2024 |work=Business Standard}} Over the subsequent years, the number of Zudio stores grew at a faster rate than Trent's flagship format Westside, driven by high turnover of Zudio's relatively inexpensive fast fashion clothing.{{cite news |last1=Sen |first1=Sesa |title=Zudio, Tata's Retail Sensation, Is Now Bigger Than Westside |url=https://www.ndtvprofit.com/profit-insights/tatas-retail-gem-zudio-is-now-bigger-than-westside |access-date=3 May 2025 |work=NDTV Profit |date=23 May 2024 |language=en}}{{cite news |last1=Tandon |first1=Suneera |title=Trent speeds up Zudio expansion, adds over 200 stores last fiscal |url=https://www.livemint.com/companies/trent-speeds-up-zudio-expansion-adds-over-200-stores-last-fiscal-11716262775192.html |access-date=3 May 2025 |work=Mint |date=21 May 2024}}

In 2019, Trent acquired a 51% stake in Booker India for {{INRconvert|22|c|mode=historical|year=2019}}.{{cite news |title=Trent to acquire 51% stake in Booker India |url=https://economictimes.indiatimes.com/markets/stocks/news/trent-to-acquire-51-stake-in-booker-india/articleshow/71280828.cms |access-date=21 February 2024 |work=The Economic Times |date=24 September 2019}} 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.{{cite news |title=The trend setter |url=https://www.iiflcap.com/Upload/Research/IIFL_-_Trent_-_Company_update_-_Oct_2023_-_20231026.pdf |access-date=21 February 2024 |work=IIFL}}

In 2024, the company began operating internationally with the opening of a Zudio store in Dubai.{{cite news |title=How the bottom-of-the-pyramid strategy worked out for Zudio |url=https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/how-the-bottom-of-the-pyramid-strategy-worked-out-for-zudio/articleshow/114018651.cms |access-date=3 May 2025 |work=The Economic Times |date=7 October 2024}}

Retail formats

Retail formats of Trent include:

class="wikitable sortable"
scope="col" style="width: 250px;" \|Name !scope="col" style="width: 150px;" \|No. of stores (March 2025){{cite web \|title=Investors’ Presentation on the Audited Financial Results (Standalone and Consolidated) for the year ended 31st March 2025 \|url=https://docs.trent-tata.com/Trent_Limited_Q4FY25_Investor_Deck_V3.pdf \|publisher=Trent Limited \|access-date=3 May 2025}} !scope="col" style="width: 500px;" \|Type !scope="col" style="width: 100px;" \|Year established !scope="col" style="width: 250px;" \|Notes
Westside \|align="center"\|248 \|Branded fashion apparel, footwear and accessories for men, women and children, along with home furnishings and decor \| 1998 \| Wholly-owned
Zudio \|align="center"\|765 \|Affordable fashion for men, women and children \| 2016 \| Wholly-owned
Utsa \|align="center"\|20 \|Contemporary ethnic apparel, beauty products and accessories \|2019 \| Wholly-owned
Samoh \|align="center"\|5 \|Indian occasionwear \|2023 \| Wholly-owned
Star \|align="center"\|78 \|Supermarket format offering groceries, daily essentials and general merchandise \|2004 \| 50:50 joint venture with Tesco
Zara \|align="center"\|23 \|Fast-fashion retail chain \|2009 \| 35:65 joint venture with Inditex{{cite news \|last1=Malviya \|first1=Sagar \|title=Trent's JV deal for Zara, Massimo has a 'put' edge \|url=https://economictimes.indiatimes.com/industry/services/retail/trents-jv-deal-for-zara-massimo-has-a-put-edge/articleshow/120529096.cms \|access-date=3 May 2025 \|work=The Economic Times \|date=23 April 2025}}
Massimo Dutti \|align="center"\|3 \|Premium clothing retail chain \|2011 \| 49:51 joint venture with Inditex
Booker India \|align="center"\|5 \|Cash and carry format for businesses and traders \|2019 \| 51:49 joint venture with Tesco

class="wikitable sortable"

scope="col" style="width: 250px;" |Name

!scope="col" style="width: 150px;" |No. of stores
(March 2025){{cite web |title=Investors’ Presentation on the Audited Financial Results (Standalone and Consolidated) for the year ended 31st March 2025 |url=https://docs.trent-tata.com/Trent_Limited_Q4FY25_Investor_Deck_V3.pdf |publisher=Trent Limited |access-date=3 May 2025}}

!scope="col" style="width: 500px;" |Type

!scope="col" style="width: 100px;" |Year established

!scope="col" style="width: 250px;" |Notes

Westside

|align="center"|248

|Branded fashion apparel, footwear and accessories for men, women and children, along with home furnishings and decor

| 1998

| Wholly-owned

Zudio

|align="center"|765

|Affordable fashion for men, women and children

| 2016

| Wholly-owned

Utsa

|align="center"|20

|Contemporary ethnic apparel, beauty products and accessories

|2019

| Wholly-owned

Samoh

|align="center"|5

|Indian occasionwear

|2023

| Wholly-owned

Star

|align="center"|78

|Supermarket format offering groceries, daily essentials and general merchandise

|2004

| 50:50 joint venture with Tesco

Zara

|align="center"|23

|Fast-fashion retail chain

|2009

| 35:65 joint venture with Inditex{{cite news |last1=Malviya |first1=Sagar |title=Trent's JV deal for Zara, Massimo has a 'put' edge |url=https://economictimes.indiatimes.com/industry/services/retail/trents-jv-deal-for-zara-massimo-has-a-put-edge/articleshow/120529096.cms |access-date=3 May 2025 |work=The Economic Times |date=23 April 2025}}

Massimo Dutti

|align="center"|3

|Premium clothing retail chain

|2011

| 49:51 joint venture with Inditex

Booker India

|align="center"|5

|Cash and carry format for businesses and traders

|2019

| 51:49 joint venture with Tesco

File:Westside Store - Mani Square Mall - Kolkata 20180223154855.jpg|Inside a Westside outlet in Kolkata.

File:Hyderabad at night in 2024 01.jpg|A typical neighbourhood Zudio store, Hyderabad.