INOX didn't reveal the financial details of the deal. But media planners aware of the cinema ad scene in India say a deal like this would cost Manyavar around Rs 7 crore.
INOX Leisure, one of India’s leading multiplex chains, has just signed a pan-India cinema advertising deal with celebration wear brand Manyavar. The development makes Manyavar the first brand to sign a deal with INOX after the reopening of cinemas across the country.
The deal signals the revival of cinema advertising, which suffered immensely as the industry had to shut operations for over eight months due to the COVID-induced lockdown.
According to consultancy firm KPMG, the Indian film industry was estimated to be around Rs 18,330 crore in FY20. Out of that, Rs 1,050 crore was advertising revenue.
Manyavar has always relied extensively on cinema advertising. With this deal, the brand is looking to promote its entire range of men’s ethnic fashion wear, along with its sub-brands Mohey and Mebaz. And also its entire range of sherwanis, Indo-Western wear, bandhgalas, kurta-jackets and accessories.
Manyavar sells celebration wear for women under its Mohey brand, while Mebaz is for men, women and children.
According to a Kantar IMRB study conducted by INOX in 2019, 100 per cent (of the) respondents successfully recalled brand Manyavar and also said that they had seen its video commercials.
The Ministry of Home Affairs relaxed the seating guidelines a while ago. The Information and Broadcasting Ministry then issued guidelines, permitting 100 per cent seating from February 1, 2021 (on a trial basis in some cities). So, INOX expects both the studios as well as the producers to promptly announce the release dates of movies, which could trigger a significant surge in footfalls.
"There were high occupancy levels in South India for movies like 'Master', 'Solo Brathuke So Better', 'Krack' and 'Red', which led to a sizeable emergence of brands’ interest in cinema advertising. INOX is hopeful that the same pattern will emerge across the country once the producers announce the release dates for the highly anticipated blockbusters," stated the multiplex chain in a media statement.
With a rich pipeline of movies in numerous genres and languages, INOX is quite optimistic about FY22, calling it the year of cinema entertainment. Fifty-plus titles in Hindi and an equal number in other Indian languages are expected to hit the screens in the next 12-15 months, along with many exciting Hollywood releases.
Commenting on the partnership with Manyavar, Anand Vishal, chief sales and revenue officer, INOX Leisure, said, “The deal not only underlines our strong relationship with Manyavar, but also reflects the tremendous audience visibility we fetch for them from the right target groups."
He added, "With seating guidelines relaxed, an enthralling lineup of movies in sight and audience apprehensions settling down, FY22 will be a landmark year for cinema advertising. We are committed to provide the best RoIs to Manyavar and all our advertisers."
INOX didn't reveal the financial details of the deal. However, media planners, who are aware of the cinema advertising scenario in India, say a deal like this would cost Manyavar around Rs 7 crore.
Ravi Modi, managing director, Vedant Fashion, added, “Manyavar is a brand which denotes celebrations, much like cinemas, where the environment is essentially of celebratory nature as family audiences turn up to celebrate special occasions. This unique and significant synergy excites us and, therefore, we assign a very high priority to cinema as an advertising medium."