Business
Trent names Vakil chairman from November 12
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Trent Ltd appointed Bahram Vakil as chairman from November 12, succeeding Noel Tata. Tata retires as chairman and director after November 11 and becomes chairman emeritus. He has been associated with Trent since 1997. Consolidated revenue rose 22 percent year-on-year to Rs 5,873 crore in Q2FY27, with net profit up 25 percent to Rs 468 crore.
Prism
What It Means For You
- Vakil, co-founder of AZB & Partners, takes the chair under Tata Group non-executive retirement rules at age 70 for Tata.
- Rajiv Dube and Kalpana Merchant join the board from October 30, subject to shareholder approval.
- Merchant’s independent term runs three years to October 29, 2029.
What's Happening
- As of September 30, Trent ran 311 Westside and 999 Zudio stores, including seven in the UAE.
- The retailer opened 10 Westside and 19 Zudio stores in the quarter and consolidated two Zudio outlets.
- Fashion retail spanned more than 18.5 million sq. ft across 339 cities, including three in the UAE.
What Drove the Quarter
- Like-for-like fashion growth was in the mid-single digits despite inflation and a shifted festive calendar.
- Emerging categories such as beauty, innerwear and footwear contributed more than 21 percent of revenue.
- Star grocery revenue grew more than 20 percent, with 87 stores across 13 cities.
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