Zara India posts weakest year since pandemic as FY26 net sales slip 1.2%
Inditex-Trent JV revenue fell to Rs2,749 cr in FY26 with profit down 32% to Rs204 cr, as Zara's 22-store India footprint cedes ground to value rivals. Parent Trent grew 18.2% to Rs19,701 cr on Zudio's 1,286-outlet surge; Massimo Dutti revenue rose 28% to Rs128 cr.
What happened
Zara India's Inditex-Trent JV posted FY26 revenue of Rs2,749 cr, down 1.2%, its weakest showing since the pandemic. Profit fell 32% to Rs204 cr amid
Key facts
- Revenue Rs2,749 cr FY26
- down 1.2% YoY
- 22 Zara stores
- Trent 20% stake
- Profit Rs204 cr down 32%
- Massimo Dutti revenue Rs128 cr up 28%
- Trent revenue Rs19,701 cr up 18.2%
- 1,286 outlets
Why this matters
The Inditex-Trent JV's stagnation alongside Massimo Dutti's 28% growth opens a window to renegotiate brand mix, expansion mandates, or even JV economics as Trent's leverage shifts decisively toward its homegrown formats.