Mumbai, May 13

Entertainment, media and communications company Percept is forging a 50:50 joint venture with the Future Group to launch Bollywood Retail.

Percept had earlier set up Bollywood Corporation Pvt Ltd to create and own IPR assets in the Bollywood domain. It aims 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 merchandising’ within the Future Group’s retail network. The joint venture will independently source Bollywood IPR and software from Percept’s Bollywood Corporation and use retail infrastructure from the Future Group.

The venture will entail an initial capital outlay of Rs 50 crore and open in 8-10 locations such as Hyderabad, Ahmedabad, Kolkata, Bangalore, Indore, Jaipur, Pune, Delhi and Mumbai.

The first Bollywood Experience Centre is expected to be up and running by the last quarter of 2008.

Taken from Business Line

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