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A view of a Planet Fashion outlet in Bangalore (file photo).

Swetha Kannan

Bangalore, Aug. 20 Planet Fashion, the menswear retail chain from Madura Garments, is looking to set up family stores.

Currently, Planet Fashion is positioned as a destination store for men, retailing Madura’s in-house brands (Allen Solly, Van Heusen, Louis Philippe and Peter England), apart from a few external brands as well.

But Planet Fashion is now looking beyond menswear to include women’s and kids’ apparel too.

The first Planet Fashion Family store will come up in Lucknow in three months, followed by Dehra Dun, Bareilly, Ghaziabad and Delhi.

Planet Fashion began in 2001 as a multi-brand retail showroom selling Madura’s brands.

Over the last few months, Planet Fashion has been revamping its offerings to include a host of products from outside the Madura stable as well to fills gaps in its product portfolio – Levi’s denim wear, Monte Carlo winter wear, and inner wear from Jockey. Very soon it will add men’s ethnic wear brand ‘Manyawar’ from Kolkata. It will then move into family stores as well, as Planet Fashion wants to cater to all the needs of the family under one roof.

Mr Shoaib Farooqi, COO - Retail and International Markets, Madura Garments, says,

“Planet Fashion will operate two models. One, men’s wear destination stores (4,000-10,000 sq ft) and two, larger family stores (7,000-15,000 sq ft).

“We will start with the small towns for the family stores as we are getting large property at the right rentals here.”

Currently, there are 85 Planet Fashion stores across the country.

This year, 15 more menswear stores will be opened, apart from a few family stores.

Going ahead, Planet Fashion wants to add services too as part of its offerings, says Mr Ashish Dikshit, President – Lifestyle Brands, Madura Garments.

While last year Planet Fashion was impacted by the slowdown, there has been a 14 per cent growth in revenues in the first quarter this year.

It is looking at an annual growth of 20 per cent on the back of rapid expansion.

Mr Farooqi, who is betting big on the wedding season to boost Planet Fashion’s sales, says, “April, May and June have been good for us due to the wedding season.

“The second quarter may face a slowdown in business, especially in North India. Again, November-December will be good as it is the peak marriage season.”

Planet Fashion, which has a retail turnover of Rs 150 crore, hopes to touch Rs 350 crore in three years.

More Stories on : Strategy | Readymade Garments

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