New Delhi, Oct 11 (IANS) Ravi Jaipuria group firm RJ Corp Wednesday signed an agreement with Disney Consumer Products (DCP) to market the latter's products in India.
Products of a new brand, Disney Artist, will be available at exclusive stores in India. The product range includes greeting cards, stationary and arts and crafts merchandise.
'RJ Corp will open five Disney Artist stores in Mumbai and Delhi before expanding to other markets in India. In the next one year we should have 15 Disney Artist stores in place,' said RJ Corp chairman Ravi Jaipuria.
The company has plans to invest about Rs.1 billion for expansion as it has designs to open 150 stores across the country.
The Rs.12-billion group has also signed an exclusive licensing agreement with DCP to source and market the arts and crafts merchandise to a wider wholesale market in India, Nepal, Sri Lanka, Bangladesh and the Maldives.
'Opportunities like Disney Artist stores are exciting because they create branded experience to delight consumers in unique ways,' said Rajat Jain, managing director of Walt Disney India.
'Our target audience will be people from all age groups and the prices range from Rs.20-Rs.800,' Jain added.