US-based broadcasting firm Turner International, which operates the popular childrens channels Cartoon Network and POGO, plans to open its official Cartoon Network brand shop to bring all licensed products and brands under one roof.
The company, through its licensing and merchandising arm Cartoon Network Enterprises (CNE), plans to double its turnover from India. The arm is responsible for the roll out of licensed FMCG (fast-moving consumer goods) and merchandising services including branded apparel, activity kits, publishing, stationery, sporting goods and school bags for kids belonging to the age group of four to 14.
CNE, which kicked off the New Year with the expansion of its Asia-Pacific licensing portfolio, is eyeing a turnover of Rs. 1,650 crore in the next three years. "We are aiming at a turnover of Rs. 1,650 crore against the current Rs. 850 crore," said Gaurav Brar, director, CNE, Turner International."We look at India as a huge focus market, which clocked 70% annual growth last year," said Brar. "After quadrupling our business in the last three years we are eagerly waiting for approvals on foreign direct investments (FDI)."
Since it plans to garner revenue from merchandising products, CNE is working with a group of lawyers to eliminate piracy.
"Pirated goods or cheap copy of branded products is common in India which prevents the growth of licensing industry," said Brar. "We are working with a separate team of advocates and legal advisors and have shut down numerous piracy manufacturers here."
The company is also trying to identify the right product mix to capture emerging consumer demand.
With rising awareness levels, Indian consumer wants products in sync with the developed world but at relevant "Indian" prices, said company executives. "Identifying the right product mix, which would encapsulate the demand of Indian consumers will be the single-biggest challenge for us," he added.