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Trent winds down Utsa ethnicwear chain to 4 stores
Livemint··28 Aug
Tata Group's Trent Ltd is winding down its Utsa ethnicwear chain, now down to four stores. The chain has fallen from a peak of over 20 stores about two years ago. The Jubilee Hills store in Hyderabad will close by September 15. Utsa had 22 stores in FY24 before falling to 20 in FY25, per HDFC Securities.
Prism
What It Means For You
- Shoppers at the Jubilee Hills Utsa store in Hyderabad have until September 15 before it closes, with some locations being replaced by the Burnt Toast brand.
- Investors in Trent get a clearer read on which retail formats the company is scaling back as it narrows its ethnicwear focus to Westside and Samoh.
- Competing ethnicwear brands such as Aditya Birla Fashion's labels and Libas stand to gain shelf space as Utsa's footprint shrinks further.
What's Happening
- Utsa's standalone store count has fallen to four, in Ahmedabad, Bengaluru, Hyderabad and Thiruvananthapuram, from more than 20 two years ago.
- An analyst cited by Mint said Utsa's sales per square foot were not enough to cover rentals and that it overlapped heavily with Westside.
- Some Utsa locations are being replaced by Burnt Toast, a youth-focused lifestyle brand, according to people familiar with the matter.
Trent's Store Count Over Time
- Utsa grew from 17 stores across five cities in FY23 to 22 stores across 12 cities in FY24, before declining to 20 stores in FY25, per HDFC Securities.
- Trent's consolidated revenue grew 2.4 times, from Rs 8,242 crore in FY23 to Rs 20,074 crore in FY26.
- India's women's ethnicwear market is projected to reach Rs 3.6-3.7 trillion by FY29, growing 9-10% annually, according to CRISIL MI&A.
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