Reliance Brands Limited Marks Its International Foray With Acquisition Of British Toy Retailer HamleysMay 09, 2019
Mumbai/London: Reliance Brands Ltd, a subsidiary of Reliance Industries, and C Banner International Holdings, a Hong Kong-listed company, today signed a definitive agreement for Reliance Brands to acquire 100% shares of Hamleys Global Holdings Ltd, the owner of the Hamleys brand, from C Banner International.
Founded in 1760, Hamleys has over 250 years of celebrated history of being the oldest and largest toy shop in the world and bringing smiles to children all over the world by bringing toys to life. Hamleys truly represents a unique model leveraging the quality and wide range of its toys, combined with the theatre, entertainment and its retail experience. Globally, Hamleys has 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys, and currently operates 88 stores across 29 cities. This acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry.
Hamleys opened its flagship Regent Street London store in 1881. This flagship store is set over seven floors covering 54,000 sq.ft, with more than 50,000 lines of toys on sale. It is considered one of London’s prominent tourist attractions, receiving over 5 million visitors each year. Children and teens from all over the world visit the store for its year-round events, parades, demonstrations and elaborate displays.
Commenting on the development, Darshan Mehta, President and CEO of Reliance Brands, said;
“Over the last few years, we have built a very significant and profitable business in toy retailing under the Hamleys brand in India. This 250 year old English toy retailer pioneered the concept of experimental retailing, decades before the concept of creating unique experience in brick and mortar retailing became the new global norm. The worldwide acquisition of the iconic Hamleys brand and business, places Reliance into the frontline of global retail. Personally it is a long cherished dream come true.”
- Gujarat govt. not to organize Shala Praveshotsav this year
- Gujarat govt to amend law for ban on e-cigarettes
- A committee to look into One Nation, One Election initiative
- School vans in Ahmedabad to remain on strike tomorrow: Vardhi Association
- Another incident of blast in mobile phone battery in Gujarat
- Temperatures to rise by 2 to 3 °C in the next two days, feeling of humid hotness to increase: Met