SRK-backed KidZania lines up $50 m for theme parks in key cities
theme parks KidZania, is planning to spend $50 million over the next 5-10 years to launch five new theme parks in cities like Bengaluru, Ahmedabad, Pune, Hyderabad, and Chennai, a top company official said.
The company currently operates two KidZania branded theme parks in Mumbai and Delhi spread across 70,000 sq ft and 95,000 sq ft, respectively. The two centres used to draw an annual footfall of 400,000 persons prior to the pandemic, which has dropped to 300,000 post the pandemic.
«We are expecting about $50 million of investment to launch the five new centres,» said Paras Chandaria, founder and promoter, KidZania India, adding that the company is open to working with strategic partners to realise its ambitious expansion plans in the country.
Chandaria's Kidz Inc Pte owns a 74% stake in Imagination Edutainment while Khan holds the remaining 26%.
The company is also contemplating launching new centres in Mumbai and Delhi that would be smaller in size at 50,000 to 60,000 sq ft.
«We are on the lookout for the right partners and if they add some value, then we're very open to considering it. For example, if they can help us get locations in five cities, then it's a no-brainer,» he added.
In fact, the company was very close to setting up its third KidZania centre in Bengaluru prior to Covid-19.
However, the landlord's decision to change in plan post-Covid meant that the company had to look for an alternative location to set up an indoor theme park. Once the company finalises a location, it takes 18 to 24 months to fit out a kid's area.
«We're in touch with many of the premier landlords and mall owners.
We're looking for locations right now in Bengaluru. After Bengaluru, our plan is to look at Ahmedabad, Pune, Hyderabad, and
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