Trent Limited to enter overseas markets
Tata Group’s retail firm Trent Ltd is on the lookout for a joint venture partner to enter overseas markets such as the Middle East, West Asia and Africa in the coming years.
Trent has already planned massive domestic expansion for its fashion retail chain Westside and will be adding 25 stores a year on an average as it looks to double Westside store count in the next five years.
“The Tata retail company Trent Ltd is scouting for a suitable joint venture partner for its overseas ambition. We want a right partner and a right model,” Philip Auld, Managing Director, Trent told PTI.
“The company preferred joint venture as it shares the risk. Initially the Middle East was the first destination and dialogue was under progress for a right partner and things might get crystallised in a year’s time,” Auld added.
Trent Ltd had posted 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).
Trent Ltd operates Westside, one of India's largest retail chains that 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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