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Rising Rivalry Slashes $20 Billion Value in Indian Fashion Chain

Trent Ltd. shares sank nearly 40 percent in 2025, marking the retailer’s first annual decline in more than a decade.
People shopping at Select City Walk Mall at Saket after further ease in the COVID-19 lockdown on June 7, 2021 in New Delhi, India. Getty Images.
Trent’s post-pandemic boom was powered by Zudio. (Getty Images)

Trent Ltd., once a market darling that topped India’s stock benchmark NSE Nifty 50 Index in 2024, is stuck in a deepening rout as slowing sales and fierce competition worry investors.

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