Tuesday, November 22, 2011

GlitzCinemas to expand its footprint with 28 new screens across 9 locations by March2013

                                           --To cover 200,000 sq. feet of Retail Mall space--
StargazeEntertainment, a leading film exhibition company operatingchain of multiplexes under its brand ‘Glitz Cinemas’ in emerging cities of India;plans to add 28 new screens by end of March 2013 as a part of its expansionplans. The company currently operates 22 screens across 8 locations. With atotal investment of 75 crores, Stargaze will stand at 50 screens across 17locations, covering almost 350,000 sq. feet of retail mall space and reaching 5million captive customers. With this plan, Stargaze will also become the“Fastest Growing Chain of Multiplexes in Emerging India”.
Glitz Cinemas are equipped with stateof the art sound and projection facilities and offer differentiated servicesincluding – Glitz Max, Glitz Lounge and Glitz 3D. Glitz Max offers a largerthan life viewing on screen larger than 50 feet; Glitz Lounge offers theubiquitous Gold Class experience with flat-bed recliners & personalizedservice; and Glitz 3D offers an unmatched 3D movie-viewing experience.
Speaking on the expansion plans, Mr.Sumant Bhargava, MD, Stargaze Entertainment Pvt. Ltd., said, “Our expansion plans are inline with ourvision to deliver international cinematic experience to smaller cities of Indiawhich do not have quality cinema infrastructure. The market has huge growthpotential and with upcoming retail infrastructure in these cities, we hope to sustainour current growth rate and also consolidate our market position by March 2013.”
With addition of 28 new screens,Stargaze will offer a total number of 12,000 seats and creating employmentopportunities for more than 1,000 young Indians in the tier-II & tier-IIIlandscape.
About Stargaze Entertainment: 
Stargaze Entertainment PrivateLimited is a leading film exhibition company with a dominant market share inthe Tier 2 & Tier 3 cities offering almost 6,000 seats per show andreaching 2.5 million- plus captive customers. With a goal to establish itsbrand “Glitz Cinemas” as one of India’s leading multiplex brands in thecountry, Sumant Bhargava, an IIM graduate and a movie-buff founded Stargaze in2008. Stargaze Entertainment commenced its commercial operations in June 2008. Atpresent, Stargaze operates a network of 22 screens across eight locations ofthe country - Ajmer, Kurukshetra, Raipur, Ranchi, Dehradun, Bilaspur, Jodhpurand one in the capital city of Delhi. ‘Glitz Cinemas” provides employment toover 400 people in these cities. 
Stargaze offers three differentiatedproducts – Glitz Lounge, Glitz Max and Glitz 3D.  The company has invested about Rs 45 croresfor setting up these 22 screens and its turnover for the financial year 2010 –2011 was Rs 13.25 crores. The Company, promoted & founded by Mr. SumantBhargava is funded by Capital 18, the private equity arm of the Network 18group promoted by Mr. Raghav Bahl.  Thedirectors of Stargaze Entertainment are Sumant Bhargava, Raghav Bahl (FounderCapital 18), Sarbvir Singh (MD, Capital 18).