Trent to sell stake in Massimo Dutti India venture
Trent said it will sell about 29% stake in its joint venture that runs Massimo Dutti in India for about Rs20.75 crore Spanish retail firm Grupo Massimo Dutti.
Budget with ET
Tax calculator
Post the share transfer, Trent's shareholding in the associate company will be 20%. Apart from Zara, Trent also has a separate association with the Inditex group to operate Massimo Dutti stores in India which saw revenues rise 14% to Rs 102 crore in FY24.
On Thursday, Trent's shares fell 8.2% on the BSE after it posted single digit same store sales growth during the December quarter with plans to optimize store portfolio. «This involves upgrading or consolidating smaller footprint stores with newer stores in more attractive micro markets. While store expansion is a key growth lever for us, maintaining the quality and physical aesthetics of stores and ensuring consistent customer experience is equally an important objective,» it said in a statement.
Trent's revenues rose 35% to Rs 4591 crore with a 37% increase in net profit at Rs 469 crore during the third quarter. During the December quarter, Trent opened 14 new Westside to take the total tally to 238 stores and added 62 Zudio stores to have a count of 635 doors of the mass-priced brand along with 34 stores across other lifestyle concepts as part of its portfolio.
«We remain on track to strongly expand our reach and at the same time improve the quality of our store portfolio. The strong store opening program this year together with other levers keeps our growth journey on
