Home / Knowledge / News / Apparel/Garments / Planet Retail sells its 50 percent stake
Planet Retail sells its 50 percent stake
09
Feb '11
The entrepreneur who launched Samsonite, the international luggage manufacturing brand in India, in a wake to boost his presence in the blooming retail market, has acquired 50 percent stake in Planet Retail, which sells various fashion brands such as Next, Guess and Nautica.

Intending to revamp the Planet Retail's portfolio, the entrepreneur plans to invest $120 million for setting up new retail stores and thereby considerably boost its earnings over the next few years.

The retailer company now manages eight brands in various segments like kidswear, fashion, beauty, departmental outlets and health. The entrepreneur presently intends to focus on five of these brands including, Guess, Nautica, Next, Debenhams and Accessorize for next three years, while rest of the brands – Sole Effect, The Body Shop, Oshkosh B'Gosh and Carter's would not be prioritized right now, as it becomes difficult to do justice to all the brands at a time when there are many.

A major portion of the Planet Retail's $25 million revenue comes from Debenhams department store. Debenhams presently operates one outlet in Gurgaon and is looking forward to launch three more outlets in other metro cities. The retailer has been renovating its outlets and has shut many of its non-profitable outlets, like it ceased the operations of 10 of its 13 Accessorize outlets, as it proposes to start more Accessorize outlets in those areas which have heavy consumer flow.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search