Over the past few years, Zudio, Tata Group‘s affordable clothing label, has been steadily winning over Indian shoppers. Its remarkable expansion has even outpaced that of the long-standing Tata-operated retail giant, Westside.
By the end of the fiscal year 2023-24, Westside boasted 232 stores across 91 cities. In contrast, Zudio, launched in 2016, had surged ahead, reaching 545 stores in 161 cities, as outlined in Tata Group’s Trent company’s annual report for the fiscal year.
In FY24, Zudio expanded into 46 new cities and fortified its position in 48 existing ones. The brand’s sales figures were remarkable, with 90 T-shirts sold every minute, 20 pairs of denim every hour, alongside 19 fragrances and 17 lipsticks. Zudio’s success can be attributed to its emphasis on accessibility, affordability, and appealing product selections.
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Reports indicate that the brand’s strategy of reducing lead times, ensuring swift delivery of fresh collections to stores, has been a game-changer for it.
Zudio primarily procures its merchandise from domestic sources in India, prioritizing accessibility, agility, and adaptability. In FY24, Zudio expanded its network by incorporating 203 new stores and renovating 10 existing ones, with an average store size of around 10,000 square feet. The typical investment for establishing a new Zudio outlet usually falls within the range of INR 3-4 crore, encompassing capital expenses, deposits, and inventory.
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Zudio functions as part of Fiora Hypermarket Limited, a wholly-owned subsidiary of Booker India Limited, itself a Trent subsidiary. In FY24, Fiora Hypermarket Limited witnessed an increase in total income to INR 192.33 crore, compared to the previous year’s total income of INR 187.25 crore. The company’s Total Comprehensive Income rose to INR 12.47 crore, marking a notable improvement from the Total Comprehensive Loss of INR 11.98 crore in the preceding year.
Zudio’s outstanding growth and achievements in FY24 reaffirm its standing as a pivotal player in the affordable clothing sector. With a steadfast dedication to accessibility, innovative offerings, and strategic expansion, Zudio remains a dominant force in the Indian retail arena.
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