Noel Tata has announced that he will step down as Chairman of Trent Ltd., marking the end of a leadership tenure that oversaw the transformation of the Tata Group’s retail business into one of India’s largest fashion and lifestyle networks.

Addressing shareholders during Trent’s 74th Annual General Meeting (AGM), Tata said it would be his final AGM as Chairman of the company. The announcement comes as he approaches the age of 70 later this year, a milestone that has implications under the provisions of the Companies Act, 2013.

“As you may know, this will be my last Annual General Meeting as Chairman,” Tata told shareholders during the meeting, while expressing gratitude for the support he received from investors, employees and business partners over the years.

The development is significant for Trent, the Tata Group company behind retail brands such as Westside and Zudio. Under Noel Tata’s leadership, the company expanded aggressively across India, evolving from a single-store operation into a major player in the organised retail sector.

Tata, who currently serves as Chairman of Tata Trusts, is set to turn 70 in November. Under Indian corporate regulations, managing directors and whole-time directors who attain the age of 70 generally require shareholder approval through a special resolution or government approval for continuation or reappointment in certain circumstances.

During the AGM, Tata reflected on the company’s journey and thanked stakeholders for their trust and confidence. He credited employees and partners for helping build Trent into one of the country’s leading retail businesses.

The company’s growth has been particularly strong in recent years. In the financial year 2025-26, Trent expanded into 79 new cities and added 289 stores to its network. As a result, the retailer now operates 1,286 stores across 321 cities, serving more than 120 million customers nationwide.

On a consolidated basis, Trent reported revenue of ₹20,074 crore during FY26, while profit before tax stood at ₹2,259 crore. The performance reinforced the company’s position among India’s fastest-growing organised retail businesses.

Trent’s origins date back to 1998, when the first Westside store was launched on Commercial Street in Bengaluru. The company was founded by the late Simone Tata after the sale of the Lakmé cosmetics business to Hindustan Unilever.

Noel Tata joined Trent’s board as a director in August 2010 and later assumed the role of Chairman in March 2014 following the retirement of F.K. Kavarana. Over the past decade, he has overseen the expansion of multiple retail formats and brands.

Today, Trent’s portfolio includes Westside, Zudio, Samoh, Utsa and Burnt Toast. The company also operates stores of international fashion brands Zara and Massimo Dutti in partnership with Spain-based Inditex Group.

Looking ahead, Tata expressed confidence in the future of organised retail in India, citing rising incomes and growing consumer preference for branded products. He recalled sharing an ambition with shareholders in 2023 to increase Trent’s revenue tenfold over time.

According to Tata, the company’s revenue and profitability run rate has already grown more than 2.5 times since then, strengthening confidence that the long-term target can be achieved. He also highlighted the potential for Indian retail brands to expand into international markets in the coming years.

While Trent has not yet announced a successor, Noel Tata’s departure from the chairman’s role marks a major transition for one of the Tata Group’s most successful retail ventures.