• Tata Trent to double Westside outlets in 5 years
Tata Group’s retail firm, Trent Ltd will open 30 new outlets for the country’s leading retail fashion chain Westside during the current financial year, said a top company official. This will be the biggest Westside expansion in a single year since inception and the company is planning to continue expanding at this pace as it looks to double its store count to 250 stores over the next 5 years. Trent Ltd finished the year strongly posting standalone net profit of Rs 12 crore (approx $1.8 million) for the fourth quarter ended March 31, 2018. The revenue of the firm rose 18 percent to Rs 529 crore (approx $79.3 million). Around half of the stores will be set up on the franchisee route while the balance will be company-owned. At present, just 2% of the Westside business is from third-party brands as compared to 22-23% seven years back with our in-house brands driving growth.