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Tata Group to open 30 new Westside stores this fiscal
25
May '18
Courtesy: Westside
Courtesy: Westside
Trent Ltd, a part of Tata group company, has decided to expand its Westside retail chain to take advantage of the economic prospects in the next 3-5 years. The company plans to double the number of Westside stores and wants to open 30 stores this fiscal. About 10 of these stores are expected to come up in the east, said a top official from the company.

Trent had opened 18 stores in 2017 and plans to open 30 stores a year in the next 3-5 years, said Philip Auld, managing director of Trent, while speaking to media during the opening of a new store in Kolkata.

Stores will come up in metros as well as tier-II cities. The company is not anticipating any funding problems for store expansions as adequate internal accruals are available, said Auld. It will raise funds by issue of non-convertible debentures of not more than ₹500 crore on a private placement basis.

There are already about 125 Westside stores in India, with 30-40 of them being franchised. Trent earns 90 per cent of its standalone revenue from Westside, added Auld.

Westside, Starmarket and Zudio are the three growth pillars of the company, said the managing director. Value brand Zudio, that currently has 7 standalone stores and 12 shop-in-shops, will also have 20 additional stores in the next 1 year. (KD)

Fibre2Fashion News Desk – India


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