Zara's India Revenue in FY22 Rises to Rs 1,815 Crore

According to Trent Ltd latest annual report, Spain's Inditex, which owns luxury fashion brand Zara reported a net profit of Rs 148.76 crore and revenue of Rs 1,815 crore for the financial year ended on March 2022.

Inditex Trent Retail India Private Ltd (ITRIPL), a JV that operates Zara stores in India posted a net loss of Rs 41 crore and a 28.3% decrease in revenue to Rs 1,126 crore in the pandemic year.

Zara currently operates 21 stores in 11 cities. The number of branches has not increased in the last two years. Zara competes with brands such as H&M, and UNIQLO in India.

The Inditex Group of Spain has a similar association with Trent, who operates Massimo Dutti stores in India. In addition, it reported 43.9% profit growth in FY22.

Both companies' businesses are basically limited to the sale of Zara and Massimo Dutti products in India. Both companies are obliged to purchase products exclusively from the Inditex Group.

Trent said that the choice of product and related specifications are at the latter’s discretion. Further, the entities are dependent on the Inditex group and are required for permissions to use these said brands in India subject to its terms specifications.