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Disney to set up retail stores in India
Mon Oct 9, 2006 2:40am ET
MUMBAI, Oct 9 (Reuters) - Walt Disney Co. is looking to set up a chain of flagship retail stores in India, and will enter into a licencing agreement with an Indian partner later this month, the Economic Times newspaper reported on Monday.
"Initially, it will have just two stores in Delhi. More stores will be set up in other metropolitan cities subsequently," the newspaper said, citing unnamed sources.
The Economic Times identified unlisted Devyani International as Disney's proposed partner.
A Disney spokesman refused to confirm the report, saying it was "purely speculative".
Devyani is part of the Jaipuria Group, a leading bottler for world's top soft-drink maker Coca-Cola Co.'s Indian business, the report said. Disney, based in Burbank, California, bought Hungama, a local children's cable and satellite TV channel in July this year for $30.5 million.
The company already broadcasts a Disney Channel and Toon Disney/Jetix in India, which reach 30 million homes on cable and satellite. (Reporting by C.J. Kurrien, editing by Mark Williams; Reuters Messaging: cj.kurrien.reuters.com@reuters.net, 91-22-6636 9037)
© Reuters 2006. All Rights Reserved.
Mon Oct 9, 2006 2:40am ET
MUMBAI, Oct 9 (Reuters) - Walt Disney Co. is looking to set up a chain of flagship retail stores in India, and will enter into a licencing agreement with an Indian partner later this month, the Economic Times newspaper reported on Monday.
"Initially, it will have just two stores in Delhi. More stores will be set up in other metropolitan cities subsequently," the newspaper said, citing unnamed sources.
The Economic Times identified unlisted Devyani International as Disney's proposed partner.
A Disney spokesman refused to confirm the report, saying it was "purely speculative".
Devyani is part of the Jaipuria Group, a leading bottler for world's top soft-drink maker Coca-Cola Co.'s Indian business, the report said. Disney, based in Burbank, California, bought Hungama, a local children's cable and satellite TV channel in July this year for $30.5 million.
The company already broadcasts a Disney Channel and Toon Disney/Jetix in India, which reach 30 million homes on cable and satellite. (Reporting by C.J. Kurrien, editing by Mark Williams; Reuters Messaging: cj.kurrien.reuters.com@reuters.net, 91-22-6636 9037)
© Reuters 2006. All Rights Reserved.
