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Spain’s luxury fashion brand Zara posted 45.54 percent growth in its profit after tax to Rs 104.05 crore from the Indian market in 2020 fiscal, according to its Indian partner Trent Ltd’s annual report. It had posted a profit after tax (PAT) of Rs 71.49 crore in 2019 fiscal.

According to a PTI report: Besides, the company posted 9.24 per cent growth in sales to Rs 1,570.54 crore during the year as against Rs 1,437.87 crore of the previous fiscal.

Zara operates in India through the association of its parent Spanish clothing company Inditex with the Tata group firm Trent Ltd. It has two separate associations with Trent – one to operate Zara stores and the other for Massimo Dutti stores in India.

Inditex group of Spain owns 51 percent, while Trent has 49 percent. The entities essentially facilitate distribution of Zara and Massimo Dutti products in India through their respective stores.

“During the year under review, the Zara entity recorded revenue of Rs 1,570.54 crore and PAT of Rs 104.05 crore,” Trent said in its annual report for 2019-20.

Zara had 22 stores operational in 12 cities as on March 31, 2020. There was no increase in the number of stores in this fiscal.

“The incremental store openings for Zara continue to be calibrated with focus on presence only in very high-quality retail spaces,” it said.

The other brand, Massimo Dutti operates three stores and recorded revenue of Rs 67 crore in the 2020 fiscal, up 5.37 percent from Rs 63.58 crore in the previous fiscal.

Both the entities are required to source merchandise only from the Inditex Group and also the choice of product and related specifications are at the latter’s discretion.

Zara competes with the likes of other foreign brands such as H&M, UNIQLO in India.

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Promostyl, the French multinational trend-forecasting company has partnered with Mumbai based fashion startup Fashionablyin and organized a fashion networking event in India.Promostyl, the French multinational trend-forecasting company has partnered with Mumbai based fashion startup Fashionablyin and organized a fashion networking event in India

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Jermina Menon, VP Marketing of Virtuous Retail, added, “We are delighted to partner with YouWeCan as we continue to be inspired by Punjab’s vibrant culture and rich heritage. It is also wonderful to have Yuvraj Singh join us on this special milestone for VR Punjab and we remain committed to expanding this cultural capital region of Chandigargh while bringing the best lifestyle brands to the city.”

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Over the years, Numero Uno Jeanswear has transformed into a dynamic and perceptive label for the youth. Today, it has the privilege of being one of the few power brands that fuses international trends, innovative fabrics, washes, treatments and accessible pricing.

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Cover Story, a fast fashion brand for women by Future Style Lab, is set to launch its flagship store on July 20, 2018 at Mall Of India, Noida. The store will be spread across 1,420 sq.ft. of area, at a prominent ground floor location amidst the most fashionable brands around.Cover Story, a fast fashion brand for women by Future Style Lab, is set to launch its flagship store on July 20, 2018 at Mall Of India, Noida.

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