Mumbai: Green Gold Animation, creators of Chhota Bheem & Mighty Raju, are expanding their exclusive licensing and merchandising division, Green Gold Store. It plans to implement the expansion plans with a wide variety of tie-ups and franchising support across India.

“With a viewership of over 40 million children, Chhota Bheem is by far the biggest ‘Toon Icon’ in India. For the first time we have a desi animation character that can be merchandized and monetized. The demand for Chhota Bheem & Mighty Raju merchandize among children is considerable and rising exponentially,” said Green Gold Stores head Sudeesh Varma.

Besides Chhota Bheem & Mighty Raju, it also owns other hit brands like Krishna Balram, Luv Kush and Chorr Police. To keep these properties as popular as ever Green Gold Animation opened its first exclusive Green Gold Store at Hyderabad in 2011. “From two outlets and a line of merchandise that numbered just ten products, we have grown to become a twenty seven store company with over two hundred products within just two years. By the end of this financial year we hope to open another twenty three stores, taking the total tally to fifty. The key objective behind retail and franchise development is to diversify the portfolio and connect with consumers; especially the diehard Chhota Bheem fan in big and small cities,” adds Varma.

With a new product line being introduced, the company is looking forward to make inroads into exciting merchandise, which will pave way into newer markets and expand footprints in the smaller centers. “The Toy & Merchandise industry in India is largely dominated by the unorganized sector. But the trend is shifting. According to industry estimates, the Licensing & Merchandising is a $ 225 to $ 300 million industry in India and growing at the rate of 20% to 25% annually. We are optimistic about expanding the overall product range and building on it,” said vice president – sourcing & licensing Madhav Prabhala.

The company is also looking at churning out more animated movies, which has been looked as a key revenue generator for the company. “Apart from new products and exciting merchandise, we are already working on our next big release. This time it will be a Mighty Raju special to be released in May 2014 and is titled ‘Might Raju Rio Calling’. You can expect some jazzy merchandise to be introduced at our Green Gold Stores, based on the movie theme”, said Green Gold executive director Samir Jain.