Walt Disney Company has awarded a Master Franchise in India which will see the roll out of its Disney Artist stores selling its branded stationary and craft products. "Disney Consumer Products...signed a franchise agreement with Delhi-based Ravi Jaipuria which will set up some 150 stores across India over next five years," says Rajat Jain, Managing Director of Walt Disney India.

The Master Franchisee plans to open five stores in Delhi and Mumbai, with a further 15 set to open in the following 12 months. "This tie up is one of our efforts to expand the scope into the kid-led family business leveraging on a brand like Disney," says Ravi Jaipuria Chairman Ravi Jaipuria. "In the times to come, there may be more specialty stores on Disney product."

Ravi Jaipuria is investing Rs 80-100 crore in the next five years to set up the stores and market Disney character branded greeting cards, stationary, arts, crafts and party products. The group will also be the exclusive wholesaler for Disney Artist products in India, Nepal, Sri Lanka, Bangladesh and Maldives.