MUMBAI: Star and Korea based CJ Home Shopping have formed a 50:50 joint venture to launch and operate a home shopping network across India.
The first stage of the partnership will be the launch of the Star-CJ home shopping channel, which is slated for the second half of 2009.
CJ Home Shopping CEO Harri Lee said, “With a population of 1.1 billion, India offers a blue ocean opportunity in home shopping. Working with leading media company Star and leveraging on the success CJ has had in markets such as Korea and China, we plan to offer a trendy and stylish home shopping television experience.”
Star CEO Paul Aiello said, “We are truly thrilled to work with CJ Home Shopping in launching a world class home shopping channel in India. India remains a fast growing market for Star and the formation of this joint venture represents yet another step in our growth trajectory in this market. It is also testament to our continued efforts in strengthening and widening our services across the country.”
