Trent, the company behind Westside, Zudio, and Star Bazaar, has structured its business model around the promotion of private in-house brands. The CEO is firm in the belief that there is currently no compelling reason to steer away from this distinct approach in the Tata Group's retail ventures, as per a report by the Economic Times.
Under the leadership of Noel Tata, the company witnessed significant revenue growth in the last five years, with an increase from Rs 2,157 crore in FY18 to Rs 8,242 crore in FY23.
P Venkatesalu, CEO of Trent told ET, "We have growing conviction in our model. The Trent playbook works. Many of these choices and disciplines are culturally anchored and that makes a difference."
The net profit saw a robust surge, reaching Rs 394 crore. Over a two-year period, the stock nearly tripled and stood out as one of the top-performing stocks of Nifty 100 in 2023.
In 2021, P Venkatesalu, aged 46, assumed the role of CEO and has closely collaborated with Noel Tata over the years. Previously, he held the position of Chief Financial Officer (CFO) for the company.
Trent stands out as the sole retailer in the country that competes solely with an exclusive range of private labels. The brands under Trent are exclusively available on Tata platforms (Tata Neu/TataCliq) and are not offered on any other e-commerce sites.
Venkatesalu also stated in a recent interview that Trent exclusively sells its own brands in the fashion sector. This approach has enabled the company to experiment, learn, and identify what resonates with consumers across Westside, Zudio, and Star.