Reliance Brands acquires British toy retailer Hamleys
Reliance Brands Ltd, a subsidiary of Reliance Industries, and C Banner International Holdings, a Hong Kong-listed company, has signed a definitive agreement for Reliance Brands to acquire 100 per cent shares ofHamleys Global Holdings Ltd, the owner of the Hamleys brand, from C Banner International.
Commenting on the development, Darshan Mehta, President and CEO, 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 experiential retailing, decades before the concept of creating unique experiences 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.”
Founded in 1760, Hamleys has over 250 years of celebrated history of being the oldest and largest toy shop in the world. 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.
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.