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Spanish retail group Inditex plans to open Zara stores in New Delhi and Mumbai in 2010 after it signed a joint venture with Trent, part of the Indian conglomerate Tata Group. Stores in other major cities in India will follow.Inditex will control 51 percen
April 6, 2018
Spanish retail group Inditex plans to open Zara stores in New Delhi and Mumbai in 2010 after it signed a joint venture with Trent, part of the Indian conglomerate Tata Group. Stores in other major cities in India will follow.
Inditex will control 51 percent of the venture, while Trent will control the remainder.
"We see great opportunities for Zara in a country that is becoming increasingly fashion conscious," says Noel Tata, managing director of Trent. "Zara has proven itself capable of quickly adapting to changing consumer tastes across geographies. This association with brand Zara is our endeavor to bring a world class brand and experience to fashion-conscious Indians."
"We view our entry into the Indian market to be of significant strategic importance," says Pablo Isla, Inditex's deputy chairman and chief executive officer. "Our retail offering has been very well received by shoppers in Asian markets, and we have rapidly expanded there. And now India will be one of our top priorities in the region."
Inditex operates the Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe facsias and has 4,200 stores in 73 countries.
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