Inditex ups stake in Indian joint venture for Zara

Spanish fashion giant Inditex is reportedly looking to increase its stake in its Zara joint venture with Indian group Trent Limited.

According to sources for Spanish media outlet Modaes, the group is set to hold a larger majority of the capital of Inditex Trent Retail India Private Limited (ITRIPL), increasing its control from its current 65 percent to 80 percent.

In a stock exchange filing last week, Trent disclosed that it had received a letter of offer from ITRIPL for a buyback of 94,900 equity shares.

Trent had held a 34.94 percent stake in the joint venture and did not disclose what its shareholding would be once the board approved the tendering.

Inditex first entered India in 2010 through its partnership with Tata, a subsidiary of Trent. It later increased its presence in the region, launching five subsidiaries largely dedicated to retail, including ones for Massimo Dutti, Bershka and Zara Home.

As of the end of 2024, the company operated 26 stores across India, 23 of which are under the Zara banner, while three are Massimo Dutti locations. In 2025, the group expanded its Bershka label into the region with the opening of the brand’s first store in Mumbai.