Through a licensing agreement with DIL, the global entertainment major plans to invest Rs 150 crore (Rs 1.5 billion) for setting up 300 such Disney Stores in the next five years across the country of which the first 22 outlets would become operative in the current year itself.
"In tie-up with the Walt Disney Company India Private Limited, we are investing 150 crore by setting up 300 exclusive kids stores in the next five years. We will open 22 'Disney Artist' stores in 2007 with an investment of Rs 10 crore (Rs 100 million)," said Ravi Jaipuria, chairman of RJ Corp --
the parent company of DIL.
The Disney Stores will sell products like stationery in the price range of Rs 25 to Rs 900, targeting mostly children in the age group of 3 to 10 years, he said.
Besides the big cities, stores would be opened in Tier II cities like Ludhiana, Jalandhar and Amritsar, Jaipuria said.
"For the moment, the products will be imported. But once we open the first 100 outlets, we would start manufacturing
units in India itself," Jaipuria told PTI.
