Zudio, an inexpensive apparel brand owned by the Tata Group, appears to be gaining popularity among Indians as evidenced by its expansion into additional cities and regions during the fiscal year. Due to its rapid growth, Zudio now has more locations than Westside, another retail chain owned by the Tata family.
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With 232 locations, Westside operated in as many as 91 cities as of the end of the 2024 fiscal year. Zudio, which debuted in 2016, was present in 161 cities and boasted an impressive 545 stores, as per the FY annual report of Trent, a Tata Group company.
Zudio expanded its presence in 48 cities and entered 46 new ones in FY24. Additionally, data showed that during the FY, the low-cost retail chain sold a staggering 90 T-shirts every minute, while 20 denim items were sold every 60 minutes. It sold 17 lipsticks and 19 fragrances at the same time. The fact that Zudio is built around accessibility and a compelling offering is what’s causing such amazing sales.
“The emphasis is on minimising lead times and landing fresh collections in stores as quickly as possible. Merchandise is almost entirely sourced from within India as a matter of choice, affording access, speed & flexibility,” Trent said.
Moreover, Zudio during FY24 added 203 new stores to its portfolio and consolidated 10 stores. With a store footprint of c.10,000 sq ft, the concept affords expansion across numerous micro-markets. The capital employed for a new Zudio store is in the region of Rs 3-4 crore including capex, deposits and inventory.
Zudio Revenue, Profit, Other Financials
The Zudio banner, along with Star, is run by Fiora Hypermarket Limited, which is a wholly owned subsidiary of Booker India Limited (a Trent subsidiary).For the financial year 2024, FHL reported a jump in its total income to Rs 192.33 crore as against its previous year’s total income of Rs 187.25 crore.
The company’s total comprehensive income was Rs 12.47 crore as opposed to its total comprehensive loss of Rs 11.98 crore during the same period last year.
P Venkatesalu, the Executive Director and CEO of Trent, also conveyed his assurance that the company is still in a strong position to use our platform and growth engines to successfully navigate this next stage of expansion. “Indian retail had a difficult year in 2023. Still, our brands showed increased resilience and produced positive results.
The obstacles are genuine, and the market is highly competitive. However, he noted in a note that there is room for multiple successful players due to the market’s size and opportunity pool.
