Kids Media India (KMI), a subsidiary of Spacetoon, has entered into a licensing partnership with World Wrestling Entertainment for WWE consumer products. Bioworld Merchandising, headquartered in Texas USA, will launch WWE apparels, footwear, bags, belts, head gear and imitation jewellery in India soon.
Ross Walker, director international consumer products, WWE said, "India has the second largest viewership globally for our programs and is second to only cricket in India. With KMI we have developed a unique three tier strategy for the Indian apparel market categorized as Premium, mid-tier and mass market to curb the counterfeit products in the market."
Rajiv Sangari, managing director and CEO, KMI said, "Our tie-up with WWE marks our move from cartoon based character licensing to live character licensing. We are also in early stages of talks to bid for an IPL team for licensing and merchandising deal in the second season."
Sangari added, "Indian licensing and merchandising market is currently estimated to be at Rs 1800 crore, with the kids licensed merchandise pie estimated to be at Rs 500 crore and are working towards attaining 20% of the market share. The Merchandising industry is poised to grow at around 15-20% per annum for the next 3 years."