Zudio, an integral part of Trent Limited, traces its roots back to the inception of Trent Limited, originally incorporated as Lakme Limited on 5 December 1992. Initially known for its expertise in the manufacture, distribution and export of cosmetics, toiletries and perfumery products, Lakme charted a new course in 1998 by divesting itself of its cosmetics business to venture into the burgeoning apparel retailing sector. Recognising the untapped potential in the apparel market and the lack of established brands in various categories, Lakme embarked on a strategic mission to establish a robust presence in apparel and soft goods retailing across the country.
In March 1998, a significant change occurred in the Indian retail landscape when Lakme, already a household name in beauty and cosmetics, ventured into the apparel sector. The move was nothing short of strategic brilliance. Lakme's foray into apparel retailing was marked by its acquisition of Littlewoods International Private Limited. At the time, Littlewoods was a major player in the retail of readymade garments and related products.
This acquisition marked Lakme's bold entry into a new domain. Leveraging its strong brand equity in cosmetics, Lakme saw an opportunity to diversify its portfolio. The idea was to combine its expertise in understanding consumer preferences with Littlewoods' established retail skills.
Acquiring Littlewoods was not just an expansion but a calculated business move. Littlewoods International, part of the U.K.-based Littlewoods International Limited, had a reputation for quality and a well-established presence in the readymade garments market. By acquiring Littlewoods, Lakme aimed to quickly gain a foothold in the competitive apparel sector.
The acquisition was more than just a change of ownership. It represented the blending of two complementary strengths: the robust operational framework of Littlewoods and the brand charisma of Lakme. This synergy was expected to drive the performance of the combined entity far beyond what either could achieve independently.
The story doesn't end with the acquisition. Simultaneously, Lakme Exports Limited, a subsidiary of Lakme, merged with Littlewoods International Private Limited. This merger gave birth to Trent Limited. By integrating all related businesses under one umbrella, Lakme created a consolidated entity better equipped to handle the intricacies of retail operations.
Trent Limited was the result of strategic consolidation, aiming to harness economies of scale and streamline operations. The newly formed entity was set to benefit from an expanded product portfolio, wider market reach, and enhanced brand value.
This series of mergers culminated on 1st July 1998, when Trent Limited merged with Lakme itself. This final step resulted in the renaming of Lakme Limited as Trent Limited. The consolidation was now complete, and Trent Limited emerged as a formidable force in the retail sector.
The renaming was more than symbolic. It signified a new era for the company, positioning itself as a major player in the Indian retail industry. This transformation allowed Trent to leverage Lakme's strong heritage while pursuing new growth avenues in retail.