The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Spanish fast fashion giant operates in India through a joint venture, Inditex Trent Retail India Private Limited (ITRIPL), between its parent Inditex and local retail conglomerate Tata Group’s Trent Limited. For the year ended March 31 2021, the entity reported a 410 million rupee loss (around $5 million) after sales declined 28 percent, India Retailing reports.
The joint venture reported around one billion rupee in profit ($14 million) its previous fiscal year.
ITRIPL runs 21 Zara stores in 11 cities across India. As well as Zara, it holds rights to Inditex-owned Massimo Dutti’s local business, which reported a 49.3 percent drop in sales for the period.
Local streetwear brands, festivals and stores selling major global labels remain relatively small but the country’s community of hypebeasts and sneakerheads is growing fast.
This week’s round-up of global markets fashion business news also features Senegalese investors, an Indian menswear giant and workers’ rights in Myanmar.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstances kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.