Planet M makes big splash in Pune music market

Geeta Nair in Pune

This street ain’t big enough for the two of us. They are not saying this as yet, but battle lines are drawn as competition builds up for a share of the Pune music market. Barely 100 metres separates the two big guns in the music retail business in the city’s Camp area, near MG Road. RPG’s Music World was first off the block and now Times Group’s music store Planet M has made an entry into Pune. A big line-up of celebrities and mega events are in the pipeline to promote the store which opens on August 15.

Planet M has launched a 4,000 sq ft shop with 20,000 music titles and 5,000 CD-RoM/VCD/DVD titles, 18 listening posts, a jukebox, a radio jockey and a stage for live performances. Down the road, Music World boasts of a 5,000 sq ft. shopping space, 75,000 strong collection, a Karaoke studio and a coffee pub—The Coffee Cafe Day.
Ajay Mehra, chief operating officer, Times Retail, is not worried about having competition right under his nose. “There is room for everyone. This is a favourite hang-out for young people and we had to be here,” says Mehra. He is confident that this will only expand the market, saying, “nobody will lose business.”

“Both will survive in Pune,” says Music World’s assistant manager, Mr Rajneesh Kumar, “We will not be affected. We have 2,000 people walking in everyday and the coffee pub and the Karaoke studio are big draws that competition does not have.”

While Music World has 15 retail outlets, Planet M chain is opening its eighth store in the country to mark its second birthday. There are already three in Mumbai, two in Delhi and one each in Jaipur and Chandigarh. Four more will be added in the next one year with stores in Bangalore, Kolkata and other major metros, says Mehra. More stores will be added in Mumbai and Delhi. The chain is still in the investment phase, but moving towards profitablity, which would be achieved in the current financial year.