Cinepolis India, a wholly owned subsidiary of Mexico-based mutliplex chain Cinépolis, announced its debut in India in November with Amritsar. “Our initial property requires some design changes since the original design was not compliant with our standards. We have taken the property and a substantial portion of the interior fit-outs has been completed. Our first theatre will go live in Amritsar in November,” informed Deepak Marda, joint managing director, Cinepolis India.
Commenting on its expansion plan in India, Marda said, “We plan to roll out 500 screens in the next seven years, most of which will be in megaplex format. Being very selective in terms of where we set up our cinemas, we refrain from going into properties where the financial assumptions become questionable.”
He further shared, “We are identifying catchments where a cinema is needed but a project is not coming up. In such situations, we are identifying alternative ways in which we can help development of a multiplex. We have also come up with financial models that are sustainable and that result in better payouts while minimising risks for the developer as well as the operator.”
“We are educating the market, funding some developments, and partnering and aligning with organisations that share similar values to identify right locations and build more multiplexes,” added Marda.
Cinepolis recently tied up with Mukta Arts for sourcing film content for its upcoming roll out of multiplex theaters across the country. Announcing the partnership with Cinepolis India, Subhash Ghai, chairman and managing director, Mukta Arts said, “We are pleased to associate with a renowned global brand like Cinepolis. With their aggressive pan-India roll-out plan and their large format mega-plex designs, we stand ready to support Cinepolis India for all their film programming needs with high quality and timely service.”
“We are set to invest in the new-age digital 3D and alternative live broadcast of events to bring unparalleled experience to our patrons. Besides these technologies in the future, we have a number of other innovations in online and on-screen media that will keep the patrons engaged, entertained, and elated,” concluded Marda.