Bollywood Superstar Shah Rukh Khan has acquired 26% strategic stake in the Indian franchise of KidZania, an international chain of family entertainment centres. The $3.5-billion Comcraft Group, which holds
the franchise for Kidzania in India, had been scouting for a significant minority investor to add value to the Indian project and decided to bring the Bollywood star on board, said people familiar with the development.
the franchise for Kidzania in India, had been scouting for a significant minority investor to add value to the Indian project and decided to bring the Bollywood star on board, said people familiar with the development.
"He brings strategic value to the deal in that he is a brand himself," said an official with knowledge of the deal. The Comcraft Group is owned by NRI Chandaria family with diverse interests in about 40 countries across the globe. Mexico-based KidZania is an interactive family entertainment centre or indoor park that allows children between 5 and 13 age group to role-play adult occupations in a miniature city.
It has activities designed to mimic real-life and functioning economy. The more than .`100-crore "edutainment centre" project will unveil its first leg in India in 2012 at R City Mall in Mumbai's Ghatkopar area. The centre will be spread over more than 70,000 square feet. Similar edutainment centres are also likely to be opened later in Delhi and Bangalore. Attempts to reach Khan's business manager on her cell phone were unsuccessful while an email query to Punit Krishna of Comcraft Group went unanswered. The investment transaction was advised by Altamount Capital Management, India's multi-family office. Vvikas Aroraa, director of marketing, sales and leasing with real estate developer Runwal Group, confirmed the opening of Kidzania at R City.
"We expect KidZania to be a major crowd-puller," he said. Aroraa, who anticipates more customers from high disposable income category with the opening of Kidzania, plans to populate Runwal's second phase with more international brands. Currently, R City Mall is spread over 7 lakh sq ft area and receives an average footfall of 1.7 to 2 million every month. KidZania will be located in the second phase of R City Mall, spread over 5 lakh sq ft, which will commence by September. Aroraa expects footfalls to increase to more than 2.5 million post opening of the second phase. The Runwal Group has a lease agreement for up to nine years with KidZania.
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