Kids Media India, a subsidiary of Dubai-based media group Spacetoon, today said it has signed a licensing agreement with World Wrestling Entertainment for sale and distribution of the latter's products in the country.
The company would be the sole licensee of WWE products in India and would source them from US-based firm Bioworld Merchandising, Kids Media said in a statement.
KMI would be launching products, including WWE apparels, footwear, bags, belts, head gear and imitation jewellery in India this week, it added.
"Our tie-up with WWE marks our move from cartoon-based character licensing to live character licensing," KMI Chief Executive Officer and Managing Director Rajiv Sangari said.
He also said the company is aiming to achieve 20 per cent share in the Indian licensing and merchandising market.
"Indian licensing and merchandising market is currently estimated to be Rs 1,800 crore, with the kids licensed merchandise estimated to be at Rs 500 crore. We are working towards attaining 20 per cent of the market share," Sangari said.
The partnership expects to propel annual revenues generated from WWE-licenced consumer goods in India, from one million to $10 million within the next three years, the company added.
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Commenting of the agreement, WWE Director (International Consumer Products) Ross Walker said with Kid Media, WWE had have developed a three tier strategy for the Indian apparel market categorised as premium, mid-tier and mass market, to curb the counterfeit products.
He said India has the second largest viewership globally for WWE programmes.
KMI has been a licensee of various cartoon character products ranging from Spiderman, X-Men, The Hulk, Iron Man, Ghost Rider and Ninja Turtles.