Spanish fast fashion brand Zara, which opened an outlet in India in 2010, has crossed the Rs 500-crore sales mark in India, reports a leading daily. Inditex Trent, the JV between Zara’s parent brand Inditex and Tata Group’s Trent, recorded 43 percent growth in its annual sales standing at Rs 580 crore for the year ended March 2014, Trent stated in its annual report.
Zara’s average sales per store stand at Rs 45 crore a year which is comparatively higher than top apparel brands like Louis Philippe, M&S and Levi’s. It is even more than Shoppers Stop and Lifestyle, the paper reports.
The report further states that while Zara’s overall sales in the country is greater than many of its international rivals, it is still behind Benetton which earns over Rs 600 crore in wholesale. In retail sales, Benetton is a brand worth Rs 1,400-crore-plus in India.
Inditex handles the backend operations and sourcing for Zara while Tata takes care of real estate and locations. .