Tata Cliq started as Westside online platform initially and soon graduated to an online marketplace of multiple brands with a Westside store front.
Trent stake in Tata Cliq used to be 10% to begin with, however there were some rights issue in which only Tata Industries participated. So final ownership is not known. Would be nice to know if you have read about it somewhere. Posting link to interesting discussion on same below -
Also, now Trent is focussing on its own website rather than relying on Tata Cliq -
Lastly, I feel NYKAA is no comparison to the likes of Aditya Birla fashion & even Trent for that matter. The prior is focused on Apparels and sometimes I feel that its brands like - Allen Solly, Van Heusen, Peter England, Loui Phillipe etc. are actually its liabilities as they have to invest significantly on each stores and inventory. For that matter - their pantaloon seems a better business with private label capabilities. Foreign brands like foreever 21, Ralph lauren etc. do not have significant market yet in India and are again liabilities. Add to that now the burden of opening 100s of stores for ethnic wear brands they acquired recently.
Trent is already focused on Westside, Zudio - both King of private labels - so seems better placed with lesser liability brands. Zara brand they have some stake always have a deserted look in their own stores - again a liability.
NYKAA on the other hand has an entirely different business model. Liability does not exist in Brand creation and individual store investments. Its physical stores are also market places - somewhat like Pantaloons & Westside/Zudio (although later ones are in essence market places for their own private labels - that’s another beauty of it)
I feel if Tatas want to take on NYKAA, Tata digital may alone not be an answer. NYKAA was a concept which was neither ahead of times nor late. It was just the right concept at right time and to take it head on, Tatas need more that just a Digital platform and investments. They have a masterpiece growing in terms of Westside & Zudio and their answer to NYKAA can very well mushroom as a catchy highlight within these existing stores with its own separate online presence.
But, this is all wishful thinking and chances of pureplay Tata Digital ownership is high possibility as I have seen Noel Tata to be very focused on what they want to do and what they are good at.
So in the niche where NYKAA operates, my vote of confidence goes to NYKAA first followed by Trent. Aditya Birla fashion - I like the Pantaloon part of their business, Rest I see as liabilities as risk of not playing well lies…
Eager to know your thoughts on each of these businesses and sub brands!
Disc: Invested in Trent. Tracking position in NYKAA & ABF. Not a buy/sell recommendation. I can be wrong in all my above assessments