Tata invests Rs 1,150 crore in its consumer retail business including Tata Cliq
today Jul 26, 2019
Tata Group has invested over Rs 1,150 ($172.9 million) in its consumer business, according to its latest filing, including in Tata UniStore which owns its e-commerce site Tata Cliq as well as in Trent which owns the fashion and lifestyle chain Westside.
Tata Group has invested in four of its own entities comprising Tata UniStore, Trent, Voltbek Home Appliances, and Infiniti Retail, according to regulatory filings at the Registrar of Companies sourced by Veratech Intelligence and accessed by ET Bureau. The investments were made during the first quarter of the current financial year by four of Tata Group’s entities, Tata Investment Corporation, Voltas, Tata Sons, and Tata Industries.
According to the filings, Rs 950 crore out of the total investment has been given to Trent in exchange for equity shares given to Tata Sons. Trent’s new fund injection will be put towards expanding its network of brick-and-mortar stores for its fashion and lifestyle brands. Trent’s Westwide stores operate in over 74 Indian cities and retail a mix of branded apparel, beauty products, and homeware items.
Tata Industries invested Rs 92.7 crore in two different trances in Tata UniStore and this money will be used to help expand its e-commerce site Tata Cliq. The e-commerce platform retails a range of fashion brands from India and abroad.
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