Tata's Trent expansion plans causes share price surge.

INDUSTRY UPDATES

Tata Group’s retail arm Trent saw its shares reach a lifetime high price this week. Investors have expressed a positive sentiment concerning the business’ ambitious expansion plans, especially for its value fashion brand Zudio.

“With Zudio picking up pace, and the opportunity size in value retail being much larger, we believe this new format would drive Trent’s next leg of growth over the coming decade,” said Nuvama Institutional Equities, ET Bureau reported. On June 13, Trent’s stock reached a lifetime high of Rs 1,694.75 during trading hours before closing the day at Rs 1,687.05. Trent’s stock has settled slightly and was trading at Rs 1,691.80 per share at 13:28 on June 15.

Trent plans to open 200 Zudio stores this financial year as well as 30 Westside stores, and 10 Samoh stores, the Economic Times reported. The business has earmarked a Rs 800 crore investment for the expansion and expects the new stores to greatly boost its revenue. Zudio retails from 375 brick-and-mortar stores located across India, according to the brand’s website. Zudio’s product categories span menswear, womenswear, children’s wear, ethnic wear, lounge wear, footwear, and beauty and its clothing is priced from Rs 199.

Article Courtesy : Fashion Network

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