Under Noel Tata's leadership, Indian retail giant Trent is all set to enter the international market as its fashion brand Zudio is all set to launch in Dubai. The launch is scheduled for next month and the first Zudio store in Dubai will be located at the Silicon Oasis Mall. It is important to note that this will be Trent’s first venture outside India.
As per a senior Trent executive, Trent's incursion into the overseas market with Zudio is a "baby step". The executive told ET, "We are doing a pilot with one store. Depending on the response we get, we will open more stores in newer geographies."
Trent is going forward with the foray into the international market cautiously to judge the market potential before making further investments.
Let us tell you that Zudio stores range from 7,000 to 10,000 square feet while Trent’s Westside stores are typically between 20,000 and 30,000 square feet.
Trent's decision to expand their operations in the international market comes amid significant growth domestically. In FY 2023-24, Trent noted a tremendous 50% increase in sales, reaching Rs 12,375 crore. The company's net profit also increased to Rs 1477 crore. As per an ET report, Trent's consolidated earnings have witnessed a five-year compound yearly growth rate of 45%.
As of June, Trent runs 228 Westside stores, 559 Zudio stores, and 36 other lifestyle concept stores. Zudio’s prompt growth has made it the company’s largest brand by store area.
Zudio’s store productivity is incredibly high with a per square foot revenue of Rs 16,300, double the industry average.
Zudio’s conquest has encouraged other nationwide retailers, such as Reliance Retail’s Yousta, ABFRL’s Style-Up, and Shoppers Stop’s InTune, to enter the market.
