GLOBAL RETAILERS

Planet was Turkey’s first hard-core big-box construction-type store owned by a Turkish entrepreneur. The Turkish entrepreneur wanted to position the brand for a trade sale to a well-funded competitor. However to attract the attention of the competitor, and to optimize the valuation of Planet, major changes had to be made to Planet’s business model. These changes were:

Planet Stores in Istanbul, Turkey

  1) a new high-fashion soft-home product assortment with its accompanying supplier base had to be established and implemented,
  2) store size had to be reduced by leasing out space which was not good retail space
  3) a new store prototype reflecting these changes had to be opened
  4) a group of leases for potential new store locations had to be negotiated.
     
     In addition all past due balances from existing creditors had to be renegotiated with a repayment rate and schedule. Within
one year, the existing store was remodeled, a new store was opened and several leases had been negotiated for future new
stores. The extra space was leased to McDonalds, Subway and Pizza Hut which become major traffic creators for the store.
Planet was acquired by its competitor 18 months after completion of these strategic changes.

(PLANET HOME CENTERS)

Office: +1.757-961-7218

425 W. Wilshire Blvd., Suite 2 F / Oklahoma City, OK 73116