Planet Fashion plans aggressive retail expansion

Planet Fashion, a retail initiative of Madura Fashion &

Lifestyle, is expecting 20 percent growth in revenue during the current fiscal to Rs 361 crores. Planet Fashion’s COO- International Business & Trade Sales Shoaib Farooqi says: "We expect our revenue to grow by 20 percent to Rs 361 crores during the current fiscal... last year our revenue was Rs 297 crores." At the moment it has 180 stores. “As of now, we have 180 outlets in 110 cities. By the end of this fiscal, we will have more than 200 stores," he said.

Its multibrand large format store Planet Fashion Grande launched, 12 years ago houses brands like Louis Philippe, Van Heusen, Allen Solly, Peter England and People in its portfolio. It is planning to open 50 more of such stores over the next three years. By the end of this fiscal it wants to open 10 of these stores, most of these will come up in Tier II and Tier III towns.

Planet Fashion Grande mainly focuses on bridal apparels, among others, in Tier II and III towns keeping the rising demand for such merchandise in these areas. Planet Fashion operates stores in sizes between 1,500 square feet and 6,000 square feet, which primarily cater to menswear and focuses on its in-house brands. The Grande retail format in the premium segment spread across 9,000 square foot, with domestic as well as international labels, has created four distinct segments dedicated to menswear, women’s wear, sports and ceremonies.

The retailer claims its USP to be the aspect of a ‘one-stop-shop’, its personalised client servicing and all the leading brands available under one roof. Planet Fashion Grande selects the best designs and quality to showcase. After opening a store in Jayanagar in Bangalore, the company plans more stores in Patna, Benaras, Ghaziabad, Vellore, Selam, Trichi, Allahabad and Irode. Currently, Planet Fashion is present in over 110 towns and, claiming to have an annual walk-in of around three million customers.