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.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.
Luxury fashion retailers in the oil-rich African nation keep a low profile to provide a discreet shopping environment for consumers and avoid flaunting the elite nature of their own business.