Trent shares rose by 5% on December 15 2021, as Bloomberg reported that the Group plans to re-enter the beauty segment. The stock of the Tata Group company, hiked 85% and reached an intraday high of Rs 1,085.55 on the BSE. According to Non-Executive Chairman of Trent, Noel Tata, beauty products, as well as footwear and lingerie will be the new focus of the group.
As per the report, the revenues from footwear, beauty, and lingerie segments is about $100 million for Trent versus the market that stands at $30 billion.
Tata Group has exited the beauty segment after it sold Lakme to Unilever Plc in 1998. However, the beauty industry has been seeing a lot of growth of late, especially with the listing of Nykaa.
