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Mexican cinema chain Cinepolis India has promoted Devang Sampat to the role of managing director. Sampat, who has over two decades of experience in the entertainment and retail industries, was earlier the CEO of Cinepolis India.
In his previous role as CEO, Devang focused on leveraging Cinepolis’s international strategies adapted for the Indian landscape and spearheading development plans tailored to the Indian market.
Under his guidance, Cinepolis India has experienced remarkable expansion nationwide while consistently delivering unparalleled customer experiences through innovative offerings and world-class facilities.
“I am truly honoured to take on the role of Managing Director at Cinépolis India. I look forward to continuing our journey of excellence, innovation, and growth as we strive to exceed the expectations of our customers and stakeholders,” said Sampat.
Cinepolis Global COO Miguel Mier said Sampat’s dedication, strategic vision, and unwavering commitment to excellence have been instrumental in driving the company’s success in India.
“We are confident that under his leadership, Cinépolis India will continue to thrive and innovate in delivering exceptional cinematic experiences to our audiences,” he added.
In an earlier interview with ET, Sampat said that Cinepolis India will double its capex to Rs 280 crore in 2024 to add 80 screens a year in the country to achieve its eventual goal of having 1,000 screens in the country.
Cinepolis, which entered India in 2009, has 432 screens in the country and has been adding 40–50 screens per year. On average, the company spends Rs 3.5 crore on launching a new screen.
“Apart from the 432 screens that we have in the country, we have signed another 600 screens that will become operational at various stages,” Sampat said, noting that the cinema exhibition industry’s fate is very closely linked to the mall development activity in the country.
“For us, capex is not a constraint, but the infrastructure is. When we entered India in 2009, our original plan was to open 1,000 screens in 10 years,” he added. Sampat stated that the pace of mall development has been sluggish in the country.
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