Inditex's Bershka turns profitable in first full year in India as Zara growth

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The Economic Times daily newspaper is available online now. Read Today's Paper Inditex's Bershka turns profitable in first full year in India as Zara growth stallsBy Sagar Malviya, ET BureauLast Updated: Oct 21, 2026, 01:11:00 PM ISTSynopsis

Inditex's Bershka turned profitable in its first full financial year in India, reporting Rs 2.92 crore in net profit on revenue of Rs 80.34 crore in FY26. Its direct-subsidiary model contrasts with Zara's Tata Group joint venture, whose revenue and profit declined as competition intensified in India's apparel market.

Mumbai: Spanish fashion retailer Inditex's Bershka turned profitable in its first full financial year in India, as the group tests a direct-subsidiary model for the youth-focused brand while its established Zara business faces slowing sales in an increasingly competitive apparel market.

Bershka Retail India reported a net profit of Rs 2.92 crore on revenue of about Rs 80.34 crore in the year ended March 2026, according to its annual report. The company had posted a loss of Rs 0.39 crore on revenue of Rs 6.97 crore in the previous financial year, when it operated for only part of the period.

Bershka entered India in February 2025 with its first store in Mumbai and its own online platform and later tied up with Myntra. Unlike Zara and Massimo Dutti, which operate in India through joint ventures with Tata Group's Trent, Bershka runs its business through an Inditex subsidiary, giving the Spanish group direct control over its operations.

The launch comes as Inditex faces mounting pressure in India, where international fashion chains, digital-first brands and domestic retailers are competing for consumers in a market increasingly divided between premium labels and value-focused clothing.

Revenue at Inditex Trent Retail India, the joint venture that operates Zara, fell 1.2% to Rs 2,749 crore in FY26, according to Trent's annual report, extending a slowdown after growth of less than 1% in FY25. Profit declined 32%, marking the brand's weakest performance in India since the pandemic-affected years.

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Zara, which has 22 stores in India, had initially doubled sales roughly every two years after entering the market more than a decade ago. Its recent performance reflects a more challenging environment as shoppers have more choices across price points and sales channels.

Massimo Dutti India, the other Inditex-Trent joint venture, performed better, with revenue rising 28% to Rs 128 crore in FY26 from Rs 100 crore a year earlier.

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