Zara India profit slides 32% in FY26 as Trent leans harder into Zudio-led mass fashion
ITRIPL, Trent's JV with Inditex, posted net profit of Rs 204 cr (-31.9%) on near-flat revenue of Rs 2,749 cr. Parent Trent's consolidated revenue rose 18.2% to Rs 19,701 cr with PAT of Rs 2,535 cr, as the Zudio-led portfolio scaled to 1,286 stores, signalling a strategic pivot from premium Zara to value fashion.
What happened
Trent's FY26 report shows Zara India JV (ITRIPL) net profit fell 32% to Rs 204 cr on flat revenue, while Trent's overall revenue grew 18% to Rs 19,701 cr,
Key facts
- Zara India net profit Rs 204.14 cr, down 31.9%
- ITRIPL revenue Rs 2,749.28 cr, down 1.1%
- Trent consolidated revenue Rs 19,701 cr, up 18.2%
- Trent PAT Rs 2,535 cr
- 1,286 stores
Why this matters
The diverging trajectories of ITRIPL and Zudio sharpen the case for re-evaluating the Inditex JV structure, value-format M&A in Tier 2-3 India, and supply-chain bolt-ons that can underwrite Zudio's next leg of store expansion.