Tata apparel brand Zudio's store expansion has surpassed that of sister brand Westside, with the former operating more than double the number of stores than the latter. In a post on social media platform X, Aditya Kondawar, partner and vice president of Compcircle, shared a screenshot from a Kotak Institutional Equities report, showcasing a striking contrast between the growth trajectories of Zudio and Westside.
According to the graph, Zudio has seen stores growth soaring from 80 in the first quarter of fiscal 2021 to 559 currently. In comparison, Westside, which had 163 stores at the same starting point, now operates 228 stores.
Zudio has added 470 stores over the past 16 quarters, averaging a new store opening every three days. Westside, in contrast, has added 148 stores during this period, the data revealed.
The rise of Zudio –
August 28, 2024
Westside had 163 stores in Q1FY21 and Zudio had 80 Stores
Today Zudio has 559 Stores and Westside has just 228!
470 stores added by Zudio in 16 qtrs, 148 by Westside
Every 3 days Zudio opened 1 new store! pic.twitter.com/VAqphLqnfBIn its quarterly report for March 2024, Trent disclosed that Westside expanded by 12 new stores, bringing its total to 232. Meanwhile, Zudio continued its aggressive growth strategy by opening 86 new stores, increasing its total to 545.
Zudio is owned by Fiora Hypermarket Ltd., a wholly-owned subsidiary of Booker India Ltd., which in turn is a Trent subsidiary. For fiscal 2024, Fiora Hypermarket Ltd. reported an increase in total income to Rs 192.3 crore, up from Rs 187.3 crore in the previous year.
Meanwhile, Trent's net profit surged 134.1% year-on-year to Rs 391 crore in the quarter ended June 30. The retailer's revenue rose by 56.2% to Rs 4,104 crore for the April-June quarter, as against Rs 2,628 crore in the same period last year.
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