Tata Trent to double Westside outlets in 5 years
Tata Group’s retail firm, Trent Ltd will open 30 new outlets for the country’s leading retail fashion chain Westside during the current financial year, said a top company official.
This will be the biggest Westside expansion in a single year since inception and the company is planning to continue expanding at this pace as it looks to double its store count to 250 stores over the next 5 years.
Trent Ltd finished the year strongly posting standalone net profit of Rs 12 crore (approx $1.8 million) for the fourth quarter ended March 31, 2018. The revenue of the firm rose 18 percent to Rs 529 crore (approx $79.3 million).
“The company expects to continue this pace of growth for Westside for next 3-5 years whereby it expects to double the number of stores by then from 125 at present. Last fiscal, it set up 18 new stores. “Around half of the stores will be set up on the franchisee route while the balance will be company-owned. We are optimistic of the economy, with all indicators pointing to growth and improvement in consumer demand,” Trent’s managing director Philip Auld was quoted as saying by PTI.
“Most Westside stores are turning profitable in one year of operations. At present, just 2% of the Westside business is from third-party brands as compared to 22-23% seven years back with our in-house brands driving growth. Due to this, we are running the operations efficiently. In fact, expansion is adding to the engine rather than diluting it,” he said.
Trent Ltd is part of the Tata Group and operates Westside, which sells products ranging from apparel, footwear, accessories to cosmetics and perfumes to home accessories. It currently has 125 Westside stores across 63 cities.
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