RJ Corp to pump in money for 300 'Disney Artist'

Gurgaon, Mar 18: RJ Corp will investment Rs 150 crore over the next five years to open 300 'Disney Artist' merchandised stores, which will provide branded school stationary products across the country.

These stores are being launched in India by RJ Corp through a licensing agreement between the group company, Devyani International Ltd (DIL) and Walt Disney Company India Pvt Ltd.

''We will open 20-25 stores this year in North India and a few in Mumbai entailing an investment of Rs 10-15 crore and are targeting 300 stores in the next five years,'' RJ Corp Chairman Ravi Jaipuria said at the launch of the first Disney Artist store here.

The company will manage the funds through internal accruals and bank loans, he said.

Mr Jaipuria said the company was also in talks with major retail players like Reliance and others to set up such stores in their malls.

The store will provide branded school stationary products like cards, photo album, gift wraps, electronic stationery for children in the age group of three-ten years.

President and CEO of DIL Virag Joshi said these stores will become an extremely popular destination for children.

Among other factors that will contribute to the success of the stores are rising affluence levels of the young Indian population along with the heightened awareness of global brands, he added.

School going children can find a article for a mimimum price of Rs 25 and a maximum of Rs 400 in the store.

''Disney Artist stores is a place for self-expression where kids and families can interact with the Disney brand and stories,'' Disney Consumer products (India) Director Roshini Bakshi said.

UNI