Home / Knowledge / News / Apparel/Garments / Planet Retail sells its 50 percent stake
Planet Retail sells its 50 percent stake
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

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search