PVR won the coveted award for Most Admired Retailer of the Year in the entertainment category at the fifth edition of Images Retail Awards (IRA) ceremony, held at Grand Hyatt in Mumbai on 18th September.
Admiration in the entertainment domain has always come naturally to PVR, since it pioneered the concept of multiplex cinemas in the country, way back in 1997. Back then, going to a cinema hall, as it were, was on its way out among the urban elite. PVR was the harbinger of a change, which made movie-going hot and happening, once again.
However, the reason why it receives an award like this one, even after a decade of launching its first multiplex is the fact that it has many more firsts to its credit and is not content to sit on its laurels.
Speaking to Indiaretailing about its future expansion plans, a spokesperson for the company said that by 2011, PVR aims to reach 300 screens across 25 cities and 57 locations. At present, it has 101 screens in 14 cities and 25 locations, said the spokesperson.
It may be pointed out here that PVR was the first to receive institutional funding in the cinema industry from ICICI Venture. It was also the first to launch India’s biggest 11 screen multiplex – PVR Bengaluru.
With a vision to emerge as an entertainment conglomerate by leveraging the most popular form of entertainment amongst Indian audiences, PVR has entered the realms of film production and distribution as well as leisure activities in and around its multiplexes. Its first two co-productions ‘Taare Zameen Par’ and ‘Jaane Tu Ya Jaane Na’ have been commercially successful and also critically acclaimed.
PVR has signed up a joint venture with Major Cineplex Group, a leading film exhibition and retail entertainment company based out of Thailand, to set-up bowling alleys, karaoke centers, ice skating rinks and gaming zones in and around PVR’s multiplexes.
Meanwhile, PVR Food Union, a joint venture with Amit Burman of Dabur Foods Limited is in the process of setting up food courts, restaurants and fast food counters under PVR’s exisiting Food Union brand or under other Indian international brands.