Inditex Strengthens Presence in India by Acquiring 80% Stake in Zara Joint Venture

Inditex strengthens its position in one of the strategic markets for international fashion. The Spanish group has acquired 80% of the capital of Inditex Trent Retail India, the joint venture with the Indian group Trent (Tata) that operates the Zara business in the country, as confirmed to Modaes by Inditex sources.

Until now, Inditex Trent Retail India was 65% controlled by Inditex, after the Spanish group had already increased its share in the capital by 14% in 2024. Inditex holds a call option on one hundred percent of the company.

This is not the first time that Inditex has made such a move. In many of the countries in which the group enters into a joint venture with a local partner, the company ends up taking a majority or one hundred percent stake. In Italy, for example, the company entered hand in hand with Percassi and in 2006 took a one hundred percent stake in the joint venture.

Inditex operates in India with a network of around thirty stores.

Inditex launched its first store in India in 2010 with Tata, with whom it created (through the subsidiary Trent) a joint venture controlled 51% by Inditex and 49% by Tata. At the end of fiscal year 2024, Inditex had five subsidiaries in the Indian market, four of them dedicated to commercial activity and one to purchasing.

Until 2024, the company operated in India with the subsidiaries Itx Services India Private Limited, dedicated to purchasing and wholly owned by the Galician group; Massimo Dutti India Private Limited, retail and 51% controlled, and Inditex Trent Retail India Private, dedicated to Zara retail.

In fiscal year 2024, Inditex added to its perimeter the companies Bershka Retail India Private Limited and Zara Home Retail India Private Limited, both wholly owned by the Spanish company.

At the end of fiscal year 2024, Inditex had 26 stores in India. Of these, 23 corresponded to the Zara chain and three to Massimo Dutti. So far this year, the group has added another point of sale in the country, in this case corresponding to Bershka and located in Mumbai. The first Zara Home store in India was announced at the end of the 2023 financial year but has not yet taken place and was planned in Bangalore.