Portico New York, an international home decor and furnishings company, has entered into a strategic tie-up with Walt Disney Company India Pvt Ltd to launch an exclusive kids range of home textiles called the Roller Coaster collection. The collection will feature Disney characters such as Pooh, Tigger & Piglet, Mickey & friends and Ariel.
As for the rationale behind the move, Portico New York CEO Rajiv Merchant explains: “Cartoon characters are quite popular amongst kids. Today, the character merchandising market is growing at the rate of 20 to 40 per cent and some manufacturers have leveraged the equity of Disney characters in apparel, accessories, toys and stationery among other things. Besides, organised retailing is booming at present.”
Walt Disney Company India Country Director S Nagarajan said prior to the move, “Walt Disney entered into a brand licence agreement with 40 companies such as Weekender Kids for apparels, Mattel and Mahindra Intertrade for toys, Cadbury’s for chocolates, Oral B for toothpaste and toothbrush. These products are being sold through 30 Disney Corners within premium retail outlets such as Pantaloon, Shoppers’ Stop and Lifestyle.”
According to Nagarajan, “After having recently entered into a strategic tie-up with Portico New York, we are now planning to set up additional 40 Disney Corners within a year. The move will also help our various licensees to sell their products through independent departmental stores as well as Disney Corners.”
To promote its new range, Portico is planning to expand its multi-branded outlets from 200 to 500 within a year. In addition, the company is also planning to set up 15 exclusive Creative Living retail showrooms through which it plans to display Portico and non-Portico products, imported bed sheets, crockery and other lifestyle products in the next two years, Merchant said.
With this initiative, Portico New York hopes to sell 40,000 units of Disney character bed sheets, towels, curtains and cushion covers, among others. In the first year of operation, the company hopes to achieve sales of Rs 1 crore to Rs 2.5 crore.
According to Merchant, Portico New York has recently installed an ERP, which has gone online and will become operational this month. With the move, the company hopes to achieve a 20 per cent improvement in working capital efficiency.
The Walt Disney Company is planning to unveil Oulan wallpapers with Walt Disney characters in the next three months, Nagarajan informed.