Planet Sports to open 100 outlets for Rs 250 cr

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New Delhi, Nov 11: Planet Sports, the multi-brand sports retail brand under Planet Retail Holdings, has said it plans to open more than 100 outlets across the country over the next three years with an investment of Rs 250 crore.

''We will scale up our outlets from existing 45 outlets to 150 by 2010,'' company's Chief Executive Officer Ravdeep Singh said.

With this expansion, the company expects to clock a turnover of Rs 500 crore from present Rs 100 crore, Mr Singh added.

The company also plans to increase their presence in the country from present 19 cities to 25 cities.

Planet Sports is likely to be demerged from its parent company PRH as murmurs of a rift between the two promoter companies gain momentum.

Planet Retail, a 51:49 joint venture between prominent NRI businessman V P Sharma and India's number one retailer, Pantaloon Retail, has the marketing and distribution rights for marquee brands such as Marks&Spencer, Guess, Next, Body Shop and department store Debenhams in India.


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