Spanish fashion brand Zara’s profit after tax in the Indian market dipped 13.43 per cent to Rs 71.49 crore in FY 2018-19.
Inditex Trent Retail India Private Ltd (ITRIPL), an association of Tata group’s retail arm Trent which is engaged in the operation of Zara stores in India reported a PAT of Rs. 82.59 crores in FY 2017-18.
In FY19, however the brand added two stores in India expanding to 10 cities including it s First store in Kolkata while also selling its clothing, shoes and accessories online – sales of which started in India in late 2017. In FY17, Zara had seen a40% drop in profit in its India business after it took price cuts on its inventory during the financial year.
ITRIPL also operates another label Massimo Dutti in India. “The entity for Massimo Dutti operates 3 stores and recorded total revenue of Rs 63.58 crore in FY19 and The incremental store opening program for Zara continues to be calibrated,“ it said.
Besides Zara and Massimo Dutti, Spanish fashion firm Inditex also owns fashion brands such as Bershka, Oysho, Pull and Bear, Stradivarius and Uterqüe.