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Anna Peter

Mumbai , April 19

MATTEL India has tied up with Pantaloon Retail (India) Ltd to open its first Barbie concept store in India at Mumbai.

This is primarily aimed at capturing the fake and knock-off Barbie products market in India, estimated at Rs 60 crore.

Mr Sanjay Luthra, Managing Director, Mattel India, said the company was targeting a growth of 125 per cent this year in its licensed product business. Much of this growth would come from carving out a share from the spurious market, he said.

Bangalore will be the next destination for Mattel India for setting up a Barbie concept store. Thereafter, this concept will be extended to most of the regions that Pantaloon is currently present in.

Worldwide, Mattel's licensing business accounts for $4 billion in revenues and this includes products such as toys, accessories, clothing and stationery. The Barbie brand has 98 per cent awareness globally and this was at 93 per cent in India, Mr Luthra said.

While the concept and expertise will be provided by Mattel, Pantaloon will provide the infrastructure.

According to Mr Luthra, apparel is expected to contribute 40 per cent of the sales, with another 40 per cent to be had from toys.

The entire product line will start from Rs 299 and include watches, raincoats, sunglasses and more and will target girls aged between 3 years and 12 years. Ninety per cent of the product line will be sourced from India.

Mr Luthra also told Business Line that the company was entering Sri Lanka and Bangladesh and was currently on a brand-building exercise in the two markets. It is looking at entering Pakistan, Myanmar and the Maldives later.

He added that there were also plans to introduce similar stores based on its Hotwheels brands targeted at boys.

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