Noel Tata’s big plans for Trent: More Zudio & Westside stores, deeper Tier 2-3 expansion and push to take Indian brands global

Trent Ltd on Thursday outlined plans to expand its presence across fashion and food retail, with a focus on entering more Tier 2 and Tier 3 markets, scaling up its Star food and grocery business and strengthening its lifestyle brands. The company also aims to emerge as a significant exporter of Indian brands, Chairman Noel N Tata said while commenting on its results for the quarter ended September 30, 2026. “As we look ahead, we will continue to invest in expanding our footprint, with a focus on building scale and strengthening our position across markets,” Tata said, adding that the food and grocery opportunity was significant and Star had a differentiated business model.

Trent to deepen presence in Tier 2 and Tier 3 cities

Trent is increasingly expanding into diverse markets, including Tier 2 and Tier 3 locations, where its brands have received a positive response. The company believes this offers scope to extend its reach into more hinterland markets.

“We are increasingly expanding our presence across diverse markets, including in many Tier 2 and Tier 3 locations. The compelling reception we are witnessing gives us the conviction to double down into more hinterlands,” Tata said.


The company operates Westside, Zudio and other lifestyle concepts, with its fashion retail footprint exceeding 18.5 million square feet across 339 cities, including three in the UAE.

Trent eyes further growth in Star food and grocery business

Alongside fashion retail, Trent plans to build scale in its Star food and grocery business. Star recorded revenue growth of more than 20% during the September quarter, despite an evolving competitive landscape.

The company added one store during the quarter, taking Star's total network to 87 outlets across 13 cities. Its own brands and products now contribute more than 74% of revenue, according to Tata.

“Star’s recent performance reinforces our confidence in the business model and its growth potential,” he said.

Trent's consolidated revenue does not include revenue from its Trent Hypermarket business under the applicable accounting standards. However, the results include the company's proportionate share of the venture's profitability, accounted for under the equity method.

Trent wants to strengthen lifestyle brands and expand exports

Tata said Trent would continue to strengthen its position across the lifestyle segments in which it operates, while building a more significant presence in food and grocery retail. He also outlined ambitions for the company to take Indian brands into overseas markets.

“I firmly believe that Trent’s best days lie ahead. I look forward to seeing the Company further strengthen its position across the lifestyle segments in which it operates, establish a significant presence in the food and grocery sector, and emerge as a meaningful exporter, carrying the flag of Indian brands into markets beyond our shores,” he said.

Tata made the remarks as he concluded his tenure as Trent's chairman, reflecting on the company's transformation into a major player in India's fashion retail sector.

Trent Q2 results FY27: Revenue rises 22%

Trent reported consolidated revenue from operations of Rs 5,873 crore in Q2 FY27, up 22% year-on-year (YoY). Operating EBITDA rose 37% to Rs 785 crore, while profit after tax (PAT) increased 25% to Rs 468 crore.

For the first half of FY27, consolidated revenue rose 20% to Rs 11,628 crore. Operating EBITDA increased 35% to Rs 1,633 crore, while PAT grew 24% to Rs 986 crore.

On a standalone basis, revenue from operations increased 23% to Rs 5,788 crore in Q2 FY27. Operating EBITDA rose 37% to Rs 791 crore, while PAT grew 9% to Rs 490 crore.

The company noted that other income in the corresponding period last year included pre-tax profits from asset sales of Rs 96 crore in Q2 FY26 and Rs 109 crore in H1 FY26. The corresponding gains in Q2 and H1 FY27 were not material, affecting year-on-year comparisons of PAT.

Zudio and Westside continue store expansion

During Q2 FY27, Trent opened 10 Westside stores and 19 Zudio stores, while consolidating two Zudio outlets. As of September 30, 2026, its portfolio comprised 311 Westside stores, 999 Zudio stores, including seven in the UAE, and 32 stores across other lifestyle concepts.

The company also announced that it had opened its 1,000th Zudio store during the quarter.

Trent said the gross margin profile of Westside and Zudio remained stable. Its operating EBIT margin stood at 11.6% in Q2 FY27, compared with 10.5% in the year-ago quarter.

Emerging categories, including beauty and personal care, innerwear and footwear, contributed more than 21% of revenue. Westside's online business, including its offering on the Tata Neu platform, continued to grow profitably. Online revenue increased 20% in H1 FY27 and accounted for more than 6% of Westside's revenue.