Planet Fashion, with its latest range of international brands, is targeting the entire family.
Madura Fashion and Lifestyle, which has primarily been a menswear company, is targeting the entire family with its premium brands. Its new family stores – Planet Fashion Grande – also has a new tagline “move up in style”.
The plans, like the name, are grand as well. While Planet Fashion stores are between 2,000 to 6,000 sq ft, Grande stores will be between 15,000 to 18,000 sq ft and divided into four sections - international, ceremonial, ladies wear and menswear sections. The first Grande store was launched in Bangalore last week.
“While the current format is perfectly suited to address the needs of discerning men, we find a huge growth opportunity in providing a complete wardrobe solution for the entire family. Unlike other large format retailers, we would be offering only selected brands across categories, and shall present an entire wardrobe solution,” says Shoaib Farooqi, chief operating officer, international business and trade sales, Planet Fashion.
What’s more: While the Planet Fashion stores used to mostly sell the in-house brands of Madura, which are licensed, such as Louis Philippe, Van Heusen, Allen Solly, the Grande will sell more international brands such as Calvin Klein, Nautica, Esprit and EDC and fragrances and sunglasses from foreign brands on its international floor.
The Grande is also betting on men’s wedding-wear and designer pret to woo customers. The ceremonial floor will stock designer sherwanis, wedding accessories, formal suits and evening wear brands. The chain has also launched made-to measure service where suits are custom tailored at the company’s factory.
Grande will also sell pret line of ace designer Ritu Kumar, sarees from Satya Paul and ethnic collection from Seven East and Global Desi.
The menswear section will, however, will continue to have its in-house brands. “We will be at the primest of prime locations, give international shopping experience and stock best selling brands handpicked by us,” says Farooqi.
Like many other chains such as Pantaloons, Madura has also roped in German design firm Blocher Blocher Partners to design the stores of Grande while visual merchandising is done by Liga Nova, a renowned retail branding company.
To make the shopping experience better, the staff has been handpicked from across the country, says Farooqi. They have also gone through extensive training by the Madura Retail training cell. The stores will also have a team of style experts who will attend to customers and advise them on fabric, design, fits and style to match their body type, usage occasion and comfort preference.
But why roll out a new chain, that too premium when there is a sense of uncertainty in the environment owing to falling markets, slowing economic growth, fears of job losses and so on? Says Farooqi, “We planned this chain almost an year ago and it is a 10-year plan. We think slowdown is temporary. When you get right rentals and right properties you go ahead,” he adds.
The weak rupee is hurting a bit though. But the company feels that while selling 40 brands, if two or three get hurt because it is too expensive, it really does not matter.
Peers, meanwhile, are raising their doubts. Says a senior executive of a department chain, “I think they are trying to discover a space between multi-brand outlets and exclusive outlets. But a customer goes to department stores to buy multiple things or goes to exclusive store, if he wants to buy one-off things. Nobody has ventured into this space and jury is out on whether they can be successful,” says the executive.
Competitors also say that since the brand is trying to extend its imprint from being purely menswear to family, it will need some time to gain acceptance. “A lot of work needs to be done. When your stores are always associated with menswear, it will take some time for shoppers to change that perception,” he adds.
But Farooqi is quite confident. “We have been in the business since 1998 and understand it well. We have run stores of 5,000 sq ft to 7,000 sq ft and added another 5,000 sq ft. Besides, you must understand we are selling extensive categories in best selling brands. We are getting good response from our first store in Bangalore.”
The company has selected 40 locations where Planet Fashion Grande can be set up and in the first year plans to open in 15 of these locations. The next store is scheduled to be opened at Delhi in first week of January 2012. Apart from metros, the chain is targeting B and C towns to set up stores. “There is more potential in these cities and no competition,” he adds.
