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It is not just art and food that is being curated. Aditya Birla-owned Planet Fashion is betting big on curated merchandise for its brands as it eyes growth and profitability.
Planet Fashion, a part of Madura F&L, said it will be adding 300 stores in tier III and IV cities largely through the franchise route. Currently, it has 225 stores pan-India.
“There is a strong demand for occasion-based wear. We are focusing strongly on the next-Gen consumers with our product offering a range of merchandise from both formal and casual category. Planet Fashion brand stores will have hand picked merchandise from Louis Philippe, Van Heusen and Allen Solly, among others,” said Rahul Jhamb, Brand Head, Planet Fashion said.
The new stores will come up in prime high streets in tier III and IV cities, he said without divulging the investment. Planet Fashion stores will be housed in an area of 1,500-3,000 sq feet.
Jhamb said the aim is to provide a range of merchandise for men under one roof. “The average ticket size is also growing in tier III and IV cities. This is a huge opportunity for us to grow,” he added.
Planet Fashion had reported revenue of ₹300 crore this year. “We are looking at revenue of ₹700 crore in the next three years,” Jhamb said.
Asked if the company was looking at exploring the e-commerce platform, he said it may seek opportunities through trendin.com – its in house e-commerce vertical.
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