Tata Group, partner of Inditex SA (US$29 billion in 2018) for a decade and running 20 Zara stores, is building its own fashion chain, as fashionable as Zara but half price. Trent (US$306 million revenue in 2018), Tata’s retail arm, plans to open hundreds of mass-market stores Zudio (prices under US$15). India’s middle class is growing and for Tata’s chairman, the value of H&M and Zara is still too expensive.
Less than 25% of Indian households have annual incomes over US$8,500. But In
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