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Fast fashion retailer Zara India has posted a loss of Rs 41 crore for the financial year ended March 31, 2021. Its revenue also slumped by 28.3 per cent to Rs 1,126 crore during the fiscal year, according to the annual report released by Trent Ltd.

“During the year under review, the Zara entity recorded revenues of Rs 1,126 crore and loss after tax of Rs 41 crore,” Trent Ltd said in its earnings statement.

Zara operates in India through Inditex Trent Retail India Private Limited (ITRIPL), a JV between the brand’s parent company Inditex and Tata Group company Trent Limited.

The company had reported a net profit of Rs 104.05 crore and revenues of Rs 1,570.54 crore in the financial year 2019-20.

“The incremental store openings for Zara continue to be calibrated with focus on presence only in very high-quality retail spaces,” the company statement said.

ITRIPL currently operates 21 Zara stores in India across 11 cities.

Trent has two separate associations with Inditex — one to operate Zara stores and the other for Massimo Dutti stores in India. Massimo Dutti also reported a 49.3 per cent fall in its revenues of Rs 34 crore in FY21. It had recorded a revenue of Rs 67 crore in FY20.

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Nicca Chemical Co Ltd (Japan) announced the signing of a Business Alliance Agreement for a long-term partnership with Resil Chemicals Pvt Ltd. for joint development and marketing of products.The signing ceremony of business agreement in Fukui, Japan between Yasumasa Emori, President of Nicca Chemical and MS Mohan, Managing Director of Resil Chemicals

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The company expects an uptick in sales through its retail outlets in the current quarter, as well as the next quarter, with a spurt in demand, Dhanjal said.

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The retail industry in India is worth $600 billion and it’s one of the fastest growing markets in the world. However, shopping habits are changing. More customers are shopping online mostly for the ease and convenience it provides.

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We have two seasonal launches (Spring-Summer) and (Autumn -Winter) with 300 style collection in each season spread across cross-category. With 2 season launches and 2 injection rounds per season, we put in a lot of research into product development. We clearly stand out with our USP being our pop colours and prints.

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In 2016, Kishore Biyani-led Future Retail – as progressive a group as they come – decided to launch a fast fashion brand to take on the likes of international brands Zara and H&M. In April of that year, Cover Story was born.Before setting up the EBOs, the brand was only available in a dozen shop-in-shop stores within Central, a department retail chain from the fashion retail arm of the group, Future Lifestyle Fashions Ltd

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