Friday, February 04, 2005

Planet Sports to sell its 49% stake to Pantaloon

Pantaloon Retail is continuously working on strengthening its its position as the undisputed leader in the retail sector. The latest news is that the company has acquired 49 per cent stake in Planet Sports, a leading sports and fashion retail company . The deal has brought internationally acclaimed brands such as Marks & Spencer, Wilson, Puma, Speedo and Converse to Pantaloon’s portfolio. Planet Sports plans to triple its turnover to Rs 105 crore from the current Rs 35 crore in the next two years. Planet Sports has six Marks and Spencer and 25 Planet Sports stores in the country.