Trent Revenue Jumps 5x in Six Years, Closing Gap with TCPL

Trent Ltd, the youngest company in Tata Sons' consumer portfolio, grew its revenue more than five times over six years, outpacing every other major consumer business in the group. Data from the Tata Sons FY26 annual report showed Trent's revenue rose to ₹20,189 crore from ₹3,635 crore in FY20. Titan's revenue expanded 4.2 times, Tata Consumer Products grew 2.1 times, and Voltas rose 1.8 times.

Six years ago, Trent accounted for 8.6% of the combined revenue of the group's four major consumer businesses. By FY26, that share climbed to 14.1%, close to TCPL's 14.3%.

The growth came from aggressive store expansion, particularly through the Zudio value-fashion chain. Zudio has been "a phenomenal driver of revenue growth," said Devangshu Dutta, founder of retail consulting firm Third Eyesight. He said Trent also benefited from a structural shift as consumers move from unorganised markets to organised retail. "The conversion from informal to formal happens not so much driven by demand but by availability. So if you open a new outlet… you have something which was not there earlier, which becomes a magnet for footfall," Dutta said.

Trent added 289 stores in FY26, bringing its total network to 1,286 outlets across 321 cities. The company's portfolio includes Westside and Zudio in fashion, Samoh and Burnt Toast in newer lifestyle formats, and Star in grocery retail.