Bounce Inc (Australia) Is Foraying into the Indian Market
02 Dec 2019 - Australian indoor trampoline theme park format Bounce Inc is foraying into the Indian market with plans to establish around 8-10 properties across the country over the next four years.
The company, which is present across 16 countries, is set to open its first park in Mumbai in December for which it has tied-up with local entity Stratospheric Entertainment.
"Our vision has always been for Bounce to be a global brand. To truly be a global brand you have to have a presence in India, this magical culture that is home to a third of the world’s population," Bounce Inc Founder Director Antony Morell told PTI.
The company believes that the concept has been successful across cultures as diverse as Saudi Arabia and Sweden, and will be well received in India, he added.
Elaborating on the expansion plans, Bounce Inc India CEO and one of the founders of Stratospheric Entertainment Anand Barot said: "Our plan is to have 8-10 such parks over the next 3-4 years and for that we are looking to invest around Rs 150 crore".
The company is already scouting for spaces in Delhi, Gurgaon, Bangalore and Ahmedabad to set up trampoline parks in the first phase, he added. Barot along with two more partners have founded Stratospheric Entertainment which is the master franchise for Bounce Inc in India.
As per the tie-up, Stratospheric Entertainment will make all the investments, while Bounce will help with installations, designing, training the staff, and knowledge transfer.
When asked to elaborate on deployment of capital for the initiative, Barot said Stratospheric would bring in equity on its own and not looking at raising funds from external sources at the moment.
The company will manage the parks on their own and for that purpose it has been imparting required training to the selected manpower. Bounce would be the second international theme park format to launch in the country after Mexican brand KidZania, which was launched in 2013. While, KidZania caters to children, Bounce would be open for all ages, he added.
Outlook India Magazine