Spanish fashion giant Inditex has signed a deal to open stores in India in 2010.
Inditex has formed a joint venture partnership with Tata Group to open Zara stores in cities including New Delhi and Mumbai. Inditex will control 51 per cent of the venture, while Trent, a Tata Group company, will control the remaining 49 per cent.
Inditex deputy chairman and chief executive Pablo Isla said: “We view our entry into the Indian market to be of significant strategic importance. Our retail offering has been very well received by shoppers in Asian markets and we have rapidly expanded there. Now India will be one of our top priorities in the region.”
Trent managing director Noel Tata said: “We see great opportunities for Zara in a country which is becoming increasingly fashion conscious.”
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