Mexus Education, an education innovations enterprise, announces their strategic foray in education retail with the launch of Iken Store, India's first edutainment store, in Mumbai yesterday. This will be the first store launch in Mumbai, in a chain of branded stores across India, which will feature innovative educational products under the brand name 'Iken'. The concept of Iken Store is poised to introduce the realm of 'edutainment' to Indian audience. It aims to redefine the way India studies. Mexus Education is committed in creating a state-of-the-art learning experience for all learners. Starting with 7 flagship Iken stores in the next 5 months, the company plans to step up to 500 Iken Stores pan India in next 3 years through mix of company owned and company operated (COCO) stores and Franchise Owned Stores. In total, the company will open its own in Delhi, Vapi, Bangalore, Kolkata, Chennai, Indore apart from Mumbai during this financial year.
Speaking on the occasion, Saurabh Saxena, Director, Mexus Education, said, 'Iken Store will establish our presence in education retail which has tremendous potential in an emerging marketing like India. There are approximately 10 CR students in 90,000 private schools in India currently and they spend close to INR 50,000 CR annually on educational products and services other than school fee. With this foray, we wish to gain the first movers advantage and re-define education retail in India by being pioneers through innovation backed with cutting-edge technology and content.' Globally, the educational retail market is well defined and developed with several brands investing heavily into Product Development for learners across all age groups. These products have targeted the curricular segment as well as hobbies and extra-curricular segment. The 'Iken store' embodies the practical & hands-on learning philosophy of Mexus Education. The store format is unique in its design and has been formulated to optimize space across all locations keeping children in mind. Iken store will be the access point where parents and students can have a first-hand experience of the Iken range of products. In the first leg of operations, Iken store will operate as an exclusive store for Iken products. However, it will showcase other stationeries but under the brand Iken.