M&A

M&A

Tata Group’s retail chain arm Trent sells stake in 2 JVs with Spain’s Inditex Group

Mint   Trent  

Mumbai-based retail major Trent has sold 1,75,450 shares of Massimo Dutti India Pvt Ltd (MDIPL) to Grupo Massimo Dutti, thereby reducing its stake from 49% to 20%. Previously it had sold 1,40,000 equity shares in Inditex Trent Retail India Pvt Ltd (ITRIPL) through buyback offer in 2024 reducing its stake from 49% to 34.94%.Trent had entered into a joint venture (JV) with Spain-based fashion giant inditex to operate Zara and Massimo Dutti brands in India.Founded in 1998, Trent owned by Tata Group, operates department stores, hypermarkets, supermarkets and specialty stores selling a range of products such as clothes, footwear, cosmetics, perfumes, handbags, household furniture, and accessories.