- ABOUT -
Founded in Ireland in 1985, Planet is the parent company of Premier Tax Free, the number two player in Tax Free Shopping (TFS) worldwide, helping eligible international travelers to claim back VAT on retail purchases. The company is also active in the Dynamic Currency Conversion (DCC) market, allowing international travelers to pay for goods and services in their own currency in shops, hotels or restaurants. Planet operates in 30 countries, serving 14,000 retail merchants with over 150,000 points of sale generating approximately €5 billion of eligible tax free sales annually. Its main clients include leading luxury and retail brands such as Chanel, Gucci, Printemps, Michael Kors and Ralph Lauren. The company processes over 8 million TFS vouchers and handles over 8 million DCC transactions per year.
- INVESTMENT CASE -
What was the objective of the transformation?
The objective is to create a major player in international payment services. The ambition shared with management is focused on the consolidation of European market positons, the expansion of TFS activities geographically, especially in Asia, and further development of DCC activities, especially outside Europe and into adjacent markets within the DCC segment.
How will Eurazeo accompany Planet in this transformation?
Eurazeo will contribute its expertise in the luxury, retail and travel & leisure sectors, as well as its international network, notably via its presence in China and Brazil. Eurazeo’s proven ability in conducting external growth transactions and accompanying its investments in new geographies will also be of significant benefit in achieving this ambition.
- CSR Initiative example -
In 2017, Planet formalized its corporate social responsibility policy. In its policy, Planet recognizes the importance of social, economic and environmental issues, identifying 18 themes of action in this area.