Spanish luxury fashion retailer Zara reported 46 per cent growth in its profit after tax (PAT) to Rs. 105 crore (US $ 14 million) for the financial year 2019-20 in the Indian market, the company’s local partner Trent Ltd. shared in its annual report.
It posted a PAT of Rs. 71 crore during the previous fiscal.
The brand witnessed 9 per cent growth in sales to Rs. 1,571 crore during the year, as compared to Rs. 1,438 crore in the previous fiscal.
Trent wrote in its report, “During the year under review, the Zara entity recorded revenue of Rs. 1,571 crore and PAT of Rs. 104 crore. There was no increase in the number of stores in this fiscal. The incremental store openings for Zara continue to be calibrated with focus on presence only in very high-quality retail spaces.”
Meanwhile, the retailer has made it clear that it will continue to launch physical stores in the country during the upcoming year.
Zara’s journey in India began way back in 2010, and it currently operates 22 stores in 12 cities in the country. It operates in India through collaboration with Trent under Inditex Trent Retail India Private Limited.