Inditex goes India

Spanish retailer Inditex and Trent Limited, a Tata group company signed an agreement to form a joint venture to develop Zara stores in India. Inditex will hold a 51% stake and the Indian conglomerate will own the remaining 49%. The partnership plans to open its first stores starting in 2010 in New Delhi, Mumbai and other major cities of India.

During a signing ceremony at Inditex headquarters in Arteixo, Spain, Noel N. Tata, Managing Director of Trent Limited, a Tata Enterprise, said: "We see great opportunities for Zara in a country which is becoming increasingly fashion conscious. Zara has proven itself capable of quickly adapting to changing consumer tastes across geographies. This association with brand Zara is our endeavour to bring a world class brand and experience to fashion conscious Indians."

Tata is one of the largest conglomerates in India, with a corporate history dating back more than 140 years and operations spanning seven industries: information systems and communications, engineering, materials, services, energy, consumer products and chemicals. The group estimates its 2007/2008 revenues totalled $62.5 billion. Tata employs more than 350,000 people worldwide.

Image: Zara Barcelona

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