Planet Fashion to expand retail reach with addition 300 stores

Planet Fashion, a multi-brand retail venture of Madura Fashion & Lifestyle, a part of the Aditya Birla Group, aims to more than double its turnover to Rs 700 crores from Rs 300 crores now, over the next three years. It is also planning to add 300 more stores to its network.

As a part of its brand revamp exercise, the company has also unveiled a new logo, which now has a new symbol to it. The company retails brands such as Louis Philippe, Allen Solly, Van Heusen and Peter England in the value segment, and focuses on customers from Tier III and IV towns. The new stores would also be opened in these areas. It also has limited tie-up with Levi's for denim, Monte Carlo for winterwear and Jockey for innerwear.

At present, there are 225 Planet Fashion stores in 176 towns growing at a compounded annual growth rate of 17 percent in last 10 years. The company is also in the process of developing its own private label called Ivy Boston for the smaller towns.