Planet Retail to sell apparel brands rights to Arvind

Ramesh Tainwala-led Planet Retail has decided to completely

exit the rights for apparel brands Nautica, Next, and Debenhams. The company is said to have sealed a deal to sell them to textile and apparel major Arvind. According to sources, Tainwala was not able to give enough attention to these brands. Earlier, he gave up rights of the US brand Guess to Major Brands, which markets Mango and Aldo in India. Tainwala had bought a 48.5 per cent stake in Planet Retail last year. He is also the president, Asia-Pacific and West Asia, of luggage maker Samsonite. Tainwala has 40 per cent stake in the joint venture with Samsonite for its South Asia business. He would focus on the accessories brands he currently holds such as Accessorize and Lavie and skincare chain The Body Shop. The company is also bringing UK brand Monsoon Accessorize and extending Lavie to include footwear soon.

Arvind Lifestyle Brands owns value retail chain Megamart and international and local brands, such as Gant, Arrow , US Polo, Elle and Flying Machine. It also holds a 50 per cent stake in Tommy Hilfiger’s India unit. It was earlier reported that Next and Debenhams are scouting for new partners in India to carry out expansion plans. When Planet Retail brought the chain to India in 2007-08, it failed to make a mark due to its positioning and economic slowdown but with changed positioning and focus on women’s category, Planet Retail was looking to achieve growth for the chain in India.