Since the acquisition in FY18, revenues from value fashion brand Zudio, have grown from | 144 crore to | 507 crore as on FY20, translating into robust CAGR of 88%. Despite a washout in Q1FY21 (revenue decline by 80% YoY), Zudio displayed a resilient show from H2FY21 onwards. The like for like (LFL) recovery rate got enhanced sharply to 91% in Q3FY21 and 100% in Q4FY21. Revenue decline was restricted to 5% YoY at | 480 crore in FY21. The fact that Zudio is not promoted as Westside or a Tata brand signifies the inherent strength of the business model. Given the scalability of the brand...