Tata creates waves with their 'larger than Westside' clothing line. Zudio, the affordable apparel brand owned by the Tata Group, has been increasingly well-liked by Indian customers in recent years. The brand's impressive expansion efforts have outperformed even the well-established retail chain, Westside, which is owned by Tata. At the close of the 2023–24 fiscal year, Westside operated 232 outlets throughout 91 cities. By contrast, Zudio, which debuted in 2016, has grown to 161 cities and 545 outlets, as per the FY annual report from Trent, a Tata Group subsidiary.
The Performance of Zudio in FY24
Zudio achieved progress in FY24 by expanding into 46 new cities and fortifying its position in 48 already-existing cities. The brand sold 90 T-shirts per minute, 20 pairs of jeans every hour, 19 fragrances, and 17 lipsticks, among other astounding sales numbers. Zudio's emphasis on accessibility, affordability, and appealing product offers is crucial to its success. The brand's approach of reducing lead times and guaranteeing that new collections arrive at stores promptly has reportedly proved revolutionary for it.
Zudio prioritizes accessibility, quickness, and flexibility while sourcing the majority of its products from India. Zudio expanded its network by 203 locations in FY24 and renovated 10 existing locations, with an average space of around 10,000 square feet. A new Zudio store usually costs between Rs 3 and 4 crore to open, including capital costs, deposits, and inventory.
Zudio's Financials
Zudio is run by Fiora Hypermarket Limited, a Trent subsidiary that is a full owner of Booker India Limited. Compared to the previous year's total income of Rs 187.25 crore, Fiora Hypermarket recorded an increase in total income to Rs 192.33 crore in FY24. Compared to the previous year's Total Comprehensive Loss of Rs 11.98 crore, the company's Total Comprehensive Income of Rs 12.47 crore represented a substantial increase. Zudio's impressive performance and growth in FY24 confirm its status as a major participant in the market for reasonably priced apparel. Zudio's strategic expansion, innovative services, and dedication to accessibility have allowed them to create significant ripples in the Indian retail scene.
