Trent in pact with Inditex for Massimo Dutti stores

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Trent in pact with Inditex for Massimo Dutti stores

Tata group retail chain Trent has signed a memorandum of understanding with Spain’s Inditex group to develop and promote Massimo Dutti stores in India.

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Tata group retail chain Trent has signed a memorandum of understanding with Spain's Inditex group to develop and promote Massimo Dutti stores in India.

Zara Holding BV, which is an Inditex group company, will hold 51% in the proposed joint venture, while Trent will hold the remaining 49% stake, it said Friday.

Trent shares rose following the announcement and were trading up over 1% at Rs 1,246 on NSE in afternoon trade.

Massimo Dutti has over 500 stores around the world and sells fashion apparels and accessories for men, women and kids.

Trent already has a 51-49 JV with Inditex to develop and promote Zara stores in India.