Trent-Inditex to bring Massimo Dutti to India

Trent, the retailing arm of the Tata Group, on Friday said it had signed a memorandum of understanding with Inditex Group of Spain to develop and promote Massimo Dutti stores in India.

Trent and Zara Holding BV, a unit of Inditex Group, would set up a joint venture in which the latter would hold 51 per cent and Trent the remaining 49 per cent.

Though the company did not say how many stores it would open or how much it would invest, sources in the know said the company could look to open at least three-four stores in the first year of operations.

Massimo Dutti has 542 stores in 50 countries and offers a variety of collections from high-end fashion to easy-going casual wear.

This is the second joint venture for Trent and Inditex in India. The venture operates five Zara stores in the country. Trent has 49 per cent while Zara has 51 per cent in the joint venture.

The success of Zara has made Trent look at other joint ventures with Inditex group, says a person familiar with the development. In a recent interaction with Business Standard, Trent vice-chairman Noel N Tata indicated that the company was exploring possibility of bringing another retail format of Inditex Group to India.

The Inditex Group, which clocked revenues of ¤12.53 billion (Rs 80,192 crore) in 2010, has more than 100 companies under its wings, operating in textile, design, manufacturing and distribution. The group runs 5,000 stores in 78 countries. The group operates different formats such as Zara, Pull & Bear, Massimo Dutti, Breshka, Oysho, Stradivarius, Zara Home and Uterque.

Trent runs department store Trent, hypermarket chain Star Bazaar, book chain Landmark among others.

The company posted revenues of Rs 716 crore in financial year 2010-11.