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Tag: Planet Sports

  • Pantaloon and Planet Sports ink joint venture agreement

    MUMBAI: The buoyant retail industry in India received a further shot in the arm today when Pantaloons and Planet Sports firmed up a strategic JV according to which, Pantaloon will subscribe to 49 per cent equity in Planet Sports.
    The agreement was signed today in Mumbai between the Pantaloon managing director Kishore Biyani and Planet Sports chairman V P Sharma.

     
     
    With the coming together of the two retail powerhouses, the branded lifestyle retailing segment is expected to receive an unprecedented boost and impetus in India.
    Pantaloon is already one of the larger players in retail and owns retail chains with the names of Pantaloons, Big Bazaar, Food Bazaar and Gold Bazaar. It also has the Central chain of seamless shopping malls.

     
     
    Planet Sports, on the other hand, is a leading sports and fashion retail company and is the sole franchisee of UK-based retailer Marks and Spencer. It also has the exclusive distribution / licensing rights for brands like Wilson, Puma, Speedo and Converse. Planet Sports currently has six Marks and Spencer and 25 Planet Sports stores in India.
     
     
    Biyani said, “The strategic alliance is going to change the face of branded lifestyle retailing in India. The access that we will now have of Sharma’s retail expertise, as witnessed in South East Asia, will create a landmark in the already booming retail sector.”
    Sharma, on the other hand has been instrumental in bringing some of the leading European and US brands to this part of the world. Said he, “The fact that Planet Sports will now be working in synergy with Pantaloons will give a leverage and a strategic advantage to both the companies. Furthermore, the cohesion will bring about a new momentum in the retail industry of the country. Biyani’s proactive, pragmatic approach and the vision he has for the thrust of the retail sector will make us break new ground.”

  • Planet Sports opens Bangalore outlet, unveils campaign

    Bangalore: “Planet Sports – your sports lifestyle store” is the new print and outdoor campaign launched by sports retail outlet Planet Sports. The campaign was unveiled on the occasion of its Bangalore outlet opening.
    Tania Zaetta of AXN’s ‘Who dares wins” show inaugurated the showroom. The store houses brands including Puma, Speedo, Nike, Adidas, Prince, Callaway (Golf equipment and accessories), Converse, Lotto, Tommy Hilfiger and Sketchers.

     

     
    The company is planning to launch another two outlets in Bangalore, along with its plans for Chennai and Hyderabad.
    “We are positioning ourselves as a sports-lifestyle store – not a purely sports goods store, nor a fashion store. As the average Indian is becoming more sports conscious and health conscious, we feel that there is a space for this new category,” says Planet Sports marketing manager Sanjay Salwan.

     
     
    Commenting on the Pantaloon’s recent 49 per cent stake in Planet Sports, Sanjay said “This is a strategic tie-up – in terms of synergies – we have the expertise in getting international brands into India, Pantaloon know the India market – they are the largest retailers n the country. Synergies of both the brands are being leveraged to help both expand, to grow.”
     
     
    The new campaign is targeted towards the sports-lifestyle mindset of consumers who are neither totally into pure sports nor into pure fashion. The ad budgets for 2005-2006 is pegged at Rs.30 million to Rs 40 million. While Percept handles the creative, Carat handles the media business. The company is also toying with the idea of brand ambassadors from tennis and cricket. Puma, for which Planet sports has an exclusive license, will be launching its cricket gear soon.