Inditex Trent runs 20 Zara stores across the country.Image Credit source: Reuters
The craze of world’s biggest fashion brand Zara is now being seen in India too. Be it college going students or office going professionals everyone is liking Zara very much. If you don’t believe then see the sales of Zara brand for the financial year 2022-23. It has increased by 40 percent compared to last year, while Zara’s profit has also increased by 77 percent.
Let us tell you that Tata Group sells Zara brand in India. For this, Inditex has formed a joint venture with Tata. Inditex Trent runs 20 Zara stores across the country.
Zara made huge profits
The revenue of Zara brand has been Rs 2,562.50 crore in 2022-23. While the net profit has been Rs 264 crore. The company says that the Zara brand has opened stores continuously to maintain its brand value. In this also, it has opened its stores only in high quality retail space under Zara brand. Its effect has been seen on the cell.
Inditex handles Zara’s back-end and sourcing of merchandise. While the work of Tata Group is to find real estate property and location to open the store.
Do you know the secret of Zara’s success?
Inditex Trent adopted a great model to make Zara successful in India, which Zara usually follows all over the world. Zara produces copycat and cheap versions of the latest fashion and designer wear around the world. Gets it to the stores fast. If the new design is not a hit within a week, then that design is taken away from stores around the world.
Readymade business increased in the country
Many global brands are now knocking in India. Despite this, the increased sales of Zara is shocking. One reason for this is the increase in the business of readymade garments in the country. India’s apparel market has become 15 percent in 2022-23. Trent also runs Massimo Dutti stores with the Inditex Group in the country. The revenue of this company has also increased in the financial year 2022-23.