Planet Fashion will add 300 new outlets over the next three years, which will help more than double its revenues to Rs 700 crore.
“We will be adding 300 new outlets by 2018, from the current 225 stores across 176 towns in the country,” Rahul Jhamb, brand head of Planet Fashion, the apparel-retailing arm of Madura Fashion & Lifestyle, said today. Most of the new stores will take the franchisee route.
The Aditya Birla Group multi-brand store, which houses flagship Madura brands, including Louis Philippe, Van Heusen and Allen Solly, is also looking at launching its own private label by September, he said.
“We are also looking at increasing the revenues to Rs 700 crore, from the current Rs 300 crore in the next three years,” Jhamb said.
The brand is positioned as a ‘menswear destination’, which provides complete wardrobe solutions for all possible occasions across price points with the merchandise across categories from brands including Louis Phillipe, Van Heusen, Allen Solly, Levi’s, Peter England, Monte Carlo and Jockey.
The brand is focusing on tier-III and tier-IV cities for the launch of its new stores based on its ‘market responsiveness’. “More than 70 of our stores are currently in tier II, III, and IV cities,” Jhamb added.
