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Indian retailer Trent to open 24 stores

RBR Staff Writer Published 05 July 2012

Indian conglomerate Tata Group’s retail arm, Trent is planning to set up 24 Westside department stores this financial year.

In the next four years, the retailer intends to have 100 Westside stores and 50 Star Bazaar hypermarkets, reported Business Standard.

The retail chain now has over 100 stores across its three major formats - Westside, Star Bazaar and book and music chain Landmark. Currently there are 66 Westside stores.

In March, the Indian retailer has raised INR2.5bn ($45.44m) through qualified institutional placement to expand the business.

Trent's expansion is expected to help it clock a top line of INR50bn ($908.75m) in the next two to three years from the INR18.44bn ($335.15m) it posted in 2011-12.

A company executive told the newspaper, "Given our contracted new store pipeline, we expect to close this financial year with between 85 to 90 operating stores."

Moreover, the company is changing its store expansion strategy to keep costs under check as majority of the new Westside stores will be stand-alone properties.

In 1998, Tatas acquired the London-based Littlewoods chain, set up Trent, and subsequently renamed Littlewoods to Westside.