Bilakhia eyes edutainment retail market
Mexus Education, the educational venture by the Bilakhia Group, is poised to introduce the concept of dedicated edutainment retail, which includes books, toys, and films, in India. Rachit Vats reports.business Updated: Nov 18, 2009 23:19 IST
Mexus Education, the educational venture by the Bilakhia Group, is poised to introduce the concept of dedicated edutainment retail, which includes books, toys, and films, in India.
In a first of its kind initiative, Mexus Education will invest Rs 100 crore over the next three years to launch the Iken brand of edutainment stores.
Under the initiative, the company will set up seven flagship Iken Stores in the next five months and add another 500 stores pan India in the next three years. The stores will be a mix of company-owned and company-operated (COCO) stores and franchise owned.
With an intention to re-invent learning, Mexus Education has invested in a team of over 300 professionals, from India’s top institutes like the IIT, BIT, NID, experienced Teachers and child psychologists, involved in research & development. The team focuses on rolling out student-friendly products that includes curriculum based books, educational toys, and informative films.
According to industry sources, the book retail industry in India is estimated to be around Rs 3,800 crore of which the edutainment retail accounts to at least Rs 1,800 crore.
The toy market is close to Rs 3,700 crore.
The company has identified Tier I cities to open its retail stores during this financial year.