STAR and CJ Home Shopping, a leading Korea-based regional home shopping group, have announced a 50:50 joint venture to launch and operate a home shopping network across India. The first stage of the partnership will be the launch of the STAR-CJ home shopping channel, which is slated for the second half of 2009.
Announcing the deal, Paul Aiello, CEO, STAR, said, “We are truly thrilled to work with CJ Home Shopping in launching a world class home shopping channel in India. India remains a fast growing market for STAR and the formation of this joint venture represents yet another step in our growth trajectory in this market. It is also testament to our continued efforts in strengthening and widening our services across the country.”
Harri Lee, CEO, CJ Home Shopping, added, “With a population of 1.1 billion, India offers a blue ocean opportunity in home shopping. Working with leading media company STAR and leveraging on the success CJ has had in markets such as Korea and China, we plan to offer a trendy and stylish home shopping television experience.”
CJ is the first home shopping company in Korea to expand globally and establish a successful business in China. CJ Home Shopping is a subsidiary of the CJ Group, one of Korea’s leading companies. CJ Group has four core business fields – Food and Food Service, Bio and Pharma, Entertainment and Media, and Home Shopping and Logistics.