The Hindu Business Line : Planet Sports plans expansion, to bring in more foreign brands

PLANET Sports plans separate branded stores for lingerie, cosmetics, healthcare and toiletries once it has acquired the franchise rights for the respective brands. Helping it in expansion, will be its new joint venture partner — Pantaloon Retail.

Mr V.P. Sharma, Chairman of Planet Sports, told Business Line, "We are discussing with more foreign brands and will be creating more retail stores for them." Having forged a joint venture with Pantaloon recently (Pantaloon had picked up a 49 per cent stake in Planet Sports early this year), Planet Sports is hoping to bid together for property with its joint venture partner, while expanding its stores. "There are synergies between the two companies and the joint venture will help us negotiate while making property deals," says Mr Sharma.

The retailing and distribution company has been busy building up its portfolio of imported brands and becoming their franchise. From becoming a franchise to lingerie brands such as Women's Secret and extending it to a retail chain such as Marks & Spencer, and the soon-to-be launched Debenhams store in Delhi, the retailer intends beefing up its portfolio of brands and floating individual stores for the same.

"We believe we will have more bargaining power, when we bid for property along with Pantaloon, in terms of better location and rental deals," says Mr Sharma. In fact, the company is already scouting for property in Chennai to set up shops. Considering it has already set up six Marks & Spencer outlets across the country, the retail company is looking at more retail brands for the various categories.

For instance, having signed a licensing agreement to bring the US-based brand Guess, Planet Sports has already opened seven Guess stores across metros, and even retails accessories from the Guess brand at Pantaloon stores.

It has appointed Percept Advertising to handle the Guess brand, and intends launching 40 Guess stores in the next five years.

Besides, Planet Sports has the licensing rights for a number of global brands, including Wilson, Puma, Speedo and Converse, which are retailed at its 25 stores across the country. In fact, Planet Sports does not have any manufacturing facilities and operates as a licensee for many imported sports brands, including the likes of Nike and Reebok.

Without disclosing the turnover of the company, Mr Sharma said, "We are looking at the middle- to high-end market and intend bringing in more foreign brands."

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