Planet Fashion renewing brand communication with rebranding

Renewing its brand communication strategies with rebranding, Planet Fashion is all set to shrug off its serious formal look along with expanding into more Tier III and IV towns. On the occasion of rebranding, Rahul Jhamb, Brand Head, Planet Fashion, revealed future plans to Indianretailer.com. 

With rebranding, how are you renewing communication with consumers?

With Tiger Shroff present here to unveil the logo of the brand, we are starting with our marketing campaign from autumn winter 2015. This is for the first time, Planet Fashion is doing its own marketing campaign. Earlier, we used to link our marketing campaigns with our brands like Louis Philippe, Van Heusen and Allen Solly, so now we have our own marketing campaign and the whole mood and tonality of the communication will be around four Fs which is Formal, Fashion, Fun and Friends.

Henceforth, we will be presenting formals but in a fun, jovial manner because mostly formals is associated with stiffness, seriousness and soberness. But since India is getting younger and youth connects with fun and jovialness, our whole tonality of communication will be around fun in formal space. And when we talk about fashion, we talk about endless possibility that people can explore.

And of course, friends, because we got the insight from the consumer research that in smaller towns most of the men consumers go shopping with their friends, so we are building our entire communication around four Fs.

What are your store expansion plans?

We are now planning to open 300 planet fashion stores in three years. We currently have 225 stores across 175 markets in the country, so now we are planning to go to 375 markets. All these stores will be led by franchisees.

Which are the territories you are planning to tap?

Primarily, we are planning to tap Tier III and IV towns. We are going to open 70 per cent of our stores in Tier IV towns and remain 30 per cent stores will be in Tier III towns and very few will be in Tier II towns.

What would be the investment per store?

Per store investment including stock and interiors would be of around Rs 55 to Rs 60 lakhs. I am talking about outright buy and sale model.  

What are your promotion and marketing plans?

We are focusing on brand building, marketing and enabling franchisees through right orientation and training and exposing them on how to manage the store effectively. We are there to give entire support to franchisees in terms of SOPs and whole management part and training and orientation part. Most of our media communication will be through outdoor, through print media and through digital.

What would be your target positioning ahead?

Our target positioning is around men’s wear but in select stores, there is an opportunity that we may look at women’s wear of Van Heusen and Allen Solly.  

What would be the targeted revenue with this investment?

Last year we closed at net MRP value of over Rs 300 cr and now we are looking at net MRP value of about Rs 700 cr in next three years.

Our like to like performace of each store is growing by 10 to 15 per cent every year and Planet Fashion’s expansion led CAGR of last 10 years is 17 per cent.