The new concept was announced at Licensing International by Michael Corcoran, president of Paramount Consumer Products and Recreation.
The store will carry merchandise based on upcoming films, studio library titles and the iconic Paramount logo.
Merchandise will be available from licensees also distributing at brick-and-mortar retail, as well as products developed exclusively for the site.
VIP may also develop both free and paid fan clubs for Paramount and selected movies. In addition to products from existing licensees, VIP also plans to produce customized products, including t-shirts, hats, sweatshirts, drinkware including cups, mugs and glasses, mouse pads, sticker decals, bumper stickers and key chains.
The Paramount online store, www.paramountstore.com, is due to launch this summer.
Corcoran, commented: “Increasingly, consumers want and expect brands to be available for purchase online as well as through traditional channels.
"By creating a comprehensive, one-stop-shopping online destination for fans of our films, we are accomplishing a number of goals – providing our licensees with another outlet to sell their product, creating a distribution platform for additional products that consumers want but may be too niche for traditional retail, and enhancing our overall online presence.
“The online store and fan clubs will also help expand awareness of our stand-out brands such as The Godfather, which benefits all sales platforms – online, direct to consumer and traditional mass market and specialty retail.”
Mark Kaminky managing partner of VIP Partnership Group, added: "Paramount has been a leader in the film industry since its inception in 1912.
"Its long and proud tradition combined with VIP's online retailing experience and market leading fan relations programs will allow fans to buy merchandise and to enjoy the kind of fan based offerings that they would expect from this historic movie studio."