MAM

Kings XI Punjab inks six-year L&M deal with Miroma Entertainment for MG of $6 mn

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MUMBAI: Indian Premier League (IPL) franchise Kings XI Punjab has inked a six-year licensing and merchandising deal with UK-based Miroma Entertainment for a minimum guaranteed amount of $6 million, a top company executive said.

The Mohali franchise will also get royalty revenues. "We expect the business to generate revenue of at least $25 million over the course of six years. Earlier we tried different models including doing it ourselves or giving it to a local agency but it did not quite work out," Kings XI Punjab COO Col. Arvinder Singh told Indiantelevision.com.

The deal with Miroma Entertainment will expand Kings XI Punjab?s brand reach to the overseas markets where there is a strong Punjabi population.

Said Singh, "We see the US, UK and Canada as important overseas markets as they have a good Punjabi diaspora. We got feedback from our fans through channels like social networks that our products were not available there. Merchandise will include things like T-shirts, flags, key chains and scarves. As our Master Licensee, Miroma will do deals with companies in different areas like linen, food, shoes and stationery. The sky is the limit in terms of the number of licensing partners that sign up."

The products have started to roll out and will be more visible once the IPL starts.

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