Planet Sports, which specialises in sports lifestyle retailing, plans to expand its network in India by adding 15 more stores during this year, thus taking the number of its stores to 45. |
Announcing this on the sidelines of opening their first exclusive store in Chennai, Swaraj Salwan, manager of the company, said that of the proposed 15 stores, 10 would be exclusive outlets and the remaining five would be set up inside Pantaloon stores which picked up a 49 per cent stake in Planet Sports in 2005. |
However, he declined to disclose the locations of the proposed stores and the probable investment that would go into setting up of the stores. |
The company, which had signed a licensing agreement with the US-based brand Guess, would also be setting up five to seven Guess stores across metros, according to Salwan. |
Planet Sports has its presence in Bangalore and Hyderabad. The company already has the exclusive licensing rights for four global brands, including Wilson, Puma, Speedo and Converse, besides leading brands like Reebok, Nike and Adidas which are retailed at its 30 stores across the country. |
"We are looking at the middle to high-end market and intend to bring in more foreign brands," he added. Planet Sports has roped in the tennis player Prakash Amritraj to endorse its products. |
The retailing and distribution company clocked a turnover of Rs 50 crore last fiscal and expects to double it in the current fiscal. |