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May, 01 2006

Planet Retail to set up 500 stores

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

Planet Retail, a venture in which the Pantaloon group has 49 per cent stake with the majority held by a 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.

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 2008. Each Debenhams departmental store would require an investment to the tune of around $5 million 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 very soon followed by one in Mumbai. The company currently has 30 Planet Sports stores, nine Marks & Spencer outlets and 11 Guess stores under its portfolio.

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