Percept, Future group form 'Bollywood Retail'
Televisionpoint.com Correspondent | Mumbai
Percept Ltd, an entertainment and media company, has entered into an equal joint venture with retail giant Future Group, called 'Bollywood Retail'.
Percept had earlier set up Bollywood Corporation, to create and own IPR assets in the Bollywood domain. It aimed to provide the complete Bollywood Experience, including Bollywood Cafes, Walk Throughs, Hall of Fame, Bollywood Museums, Bollywood Theme Park, Merchandising and a host of other experiential offerings for the visitors.
Bollywood Retail will focus on providing the Bollywood Experience and Bollywood Merchandizing, within the Future Group's retail network. The JV will independently source Bollywood IPR and software from Bollywood Corporation and use retail infrastructure from the Future Group.
The JV will entail an initial capital outlay of Rs 50 crores and open 8-10 locations in the first phase in the cities of Hyderabad, Ahmedabad, Kolkata, Bangalore, Indore, Jaipur, Pune, Delhi and Mumbai.
Said Kishore Biyani, Group CEO, Future Group, "Bollywood is one of the biggest entertainment that rules India – it transcends age, gender, geographical and cultural barriers, but yet binds the entire populace together. For many, Bollywood is an experience in itself which they aspire to get close to and we will give the audiences an opportunity to do so. Through this partnership with Percept we hope to bring a unique touch and feel of the Bollywood experience to the consumer."
Said Shailendra Singh, Joint Managing director, Percept Limited, "Bollywood merchandize is just the first of many things to result from this partnership. The international market has been exposed to the concept of merchandizing and is a much more mature market than India; the domestic market is still nascent, but I am sure that in due course, the concept of merchandizing will be lapped up by the consumers in a big way."
Percept Ltd, an entertainment and media company, has entered into an equal joint venture with retail giant Future Group, called 'Bollywood Retail'.
Percept had earlier set up Bollywood Corporation, to create and own IPR assets in the Bollywood domain. It aimed to provide the complete Bollywood Experience, including Bollywood Cafes, Walk Throughs, Hall of Fame, Bollywood Museums, Bollywood Theme Park, Merchandising and a host of other experiential offerings for the visitors.
Bollywood Retail will focus on providing the Bollywood Experience and Bollywood Merchandizing, within the Future Group's retail network. The JV will independently source Bollywood IPR and software from Bollywood Corporation and use retail infrastructure from the Future Group.
The JV will entail an initial capital outlay of Rs 50 crores and open 8-10 locations in the first phase in the cities of Hyderabad, Ahmedabad, Kolkata, Bangalore, Indore, Jaipur, Pune, Delhi and Mumbai.
Said Kishore Biyani, Group CEO, Future Group, "Bollywood is one of the biggest entertainment that rules India – it transcends age, gender, geographical and cultural barriers, but yet binds the entire populace together. For many, Bollywood is an experience in itself which they aspire to get close to and we will give the audiences an opportunity to do so. Through this partnership with Percept we hope to bring a unique touch and feel of the Bollywood experience to the consumer."
Said Shailendra Singh, Joint Managing director, Percept Limited, "Bollywood merchandize is just the first of many things to result from this partnership. The international market has been exposed to the concept of merchandizing and is a much more mature market than India; the domestic market is still nascent, but I am sure that in due course, the concept of merchandizing will be lapped up by the consumers in a big way."
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