MOFSL backs Trent at Rs 3,500: Zudio to 5,000 stores, Westside to 700 long-term
Motilal Oswal reiterates Buy on Trent, citing chairman's roadmap of 200-250 Zudio openings/year (from 960 today to 5,000 eventually) and 50 Westside/year (300 to 700). With just 2% of India's fashion retail, MOFSL models 2.5x revenue and 3x profit growth.
What happened
MOFSL reiterates Buy on Trent with Rs 3,500 target. Chairman pegs Trent at just 2% of India's fashion retail, guiding 50 Westside, 200-250 Zudio, 25-40 Star
Key facts
- target Rs 3,500
- 2% market share fashion retail
- 50 Westside stores/year
- 200-250 Zudio stores/year
- 25-40 Star stores/year
- 700 Westside long-term
- 5,000 Zudio long-term
- 960 Zudio currently
- 300 Westside currently
- 2.5x revenue growth
- 3x profit growth
Why this matters
Trent's aggressive organic build-out signals limited near-term M&A appetite but creates pressure on rival value-fashion chains and mall operators to lock in anchor deals or pursue defensive consolidation.