News: Planet Retail Holdings to set up 500 stores by 2010
(TNN 29/03/2006) New Delhi - Planet Retail Holdings, master franchisee for several premium lifestyle brands in India such as Debenhams, Marks&Spencer, Guess, Next, Women’s Secret and The Body Shop, plans to set up around 500 stores by 2010, that is expected to generate sales turnover of around Rs 1,000 crore.
This includes opening 10 Debenhams departmental stores, 40 Marks&Spencer and Body Shop outlets, around 20 exclusive stores of Next and Women’s Secret, apart from around 100 Planet Sports stores, across all major metros in the country. This is estimated to require investments to the tune of another Rs 200 crore, majority of which will be met through internal accruals.
Planet Retail, a venture in which the Pantaloon group has 49% stake with the majority held by an NRI investor, currently has around 55 stores which generate around Rs 100 crore in sales. Plans are to have at least 250 stores in place by 2008 which would generate revenues to the tune of Rs 500 crore with an investment of around Rs 120 crore.
According to Arun Bhardwaj, managing director, Planet Retail Holding, the first two Debenhams departmental stores, a leading brand from UK, will come up in Gurgaon and Delhi in 2006.
This will be followed up with presence in Mumbai, Bangalore, Kolkata, Chennai, Ludhiana and Hyderabad. Debenhams has recently signed up as anchor store in MBD Neopolis, a premium mall in Ludhiana that will house a multiplex and five-star hotel, set to open in ’08.
“Punjab has a strong association with UK and we want to built on that,” Mr Bharadwaj added. Each Debenhams departmental store would require an investment to the tune of around $5million and should be in a position to pay for themselves over a three year time-frame.
Of the health and beauty segment brands under its portfolio, the first Body Shop store will open in Delhi in May this year followed by one in Mumbai. The company currently has 30 Planet Sports stores, nine Marks&Spencers outlets and 11 Guess stores under its portfolio.
This includes opening 10 Debenhams departmental stores, 40 Marks&Spencer and Body Shop outlets, around 20 exclusive stores of Next and Women’s Secret, apart from around 100 Planet Sports stores, across all major metros in the country. This is estimated to require investments to the tune of another Rs 200 crore, majority of which will be met through internal accruals.
Planet Retail, a venture in which the Pantaloon group has 49% stake with the majority held by an NRI investor, currently has around 55 stores which generate around Rs 100 crore in sales. Plans are to have at least 250 stores in place by 2008 which would generate revenues to the tune of Rs 500 crore with an investment of around Rs 120 crore.
According to Arun Bhardwaj, managing director, Planet Retail Holding, the first two Debenhams departmental stores, a leading brand from UK, will come up in Gurgaon and Delhi in 2006.
This will be followed up with presence in Mumbai, Bangalore, Kolkata, Chennai, Ludhiana and Hyderabad. Debenhams has recently signed up as anchor store in MBD Neopolis, a premium mall in Ludhiana that will house a multiplex and five-star hotel, set to open in ’08.
“Punjab has a strong association with UK and we want to built on that,” Mr Bharadwaj added. Each Debenhams departmental store would require an investment to the tune of around $5million and should be in a position to pay for themselves over a three year time-frame.
Of the health and beauty segment brands under its portfolio, the first Body Shop store will open in Delhi in May this year followed by one in Mumbai. The company currently has 30 Planet Sports stores, nine Marks&Spencers outlets and 11 Guess stores under its portfolio.
posted by InCar Group Press Room at 15:42
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