Written By: Yashika Sabharwal
Reliance Industries Acquires Oldest Toys Brand : Hamleys
HIGHLIGHTS
- Ambani’s Reliance Industries acquires the global toy retailer Hamleys for Rs 620 crore in an all-cash deal.
- “Reliance Brands” a subsidiary of Reliance Industries Ltd (RIL) — has acquired the entire stake hold of an famed UK toy brand Hamleys in Global Holdings that owns the from C Banner International.
- Mukesh Ambani buys the world’s oldest toy shop Hamleys. This acquisition of stake holding, will sling Reliance Brands to be a best and dominant player in the global toy retail industry.
Marking its global foray, “Hamleys” was introduced in Indian Market by Reliance Brands in 2010, with its first store opening at the High Street Phoenix, mall in Mumbai. The financial terms of the deal were not much disclosed.
- In India, for the first time, Reliance has the master franchisee for Hamley’s and today it’s expanded to runs with 88 stores across 29 cities.
- This franchise buy will give RIL, a captive market across other Asian, European and the US as the company is planning to expand its retail business globally with the full buzz.
- This acquisition have also marked the second change in ownership of Hamleys, which was sold to HongKong-based C Banner for £100 million in 2015.
“Over the past few years in this market, their team have built a very significant and profitable business in toy retailing under the brand Hamleys in India.
The 250-year-old British toy retail merchant pioneered the original idea and concept of this experimental retailing toy market, many decades ago, the concept of creating unique experiences in brick and mortar retailing became the new norm,” Darshan Mehta, President and CEO at Reliance Brands, said.
Latterly, Hamleys the oldest toy brand has been moved from one hand to another. In the year 2003, the traditional toy company was bought by an Icelandic company, “Baugur Group”. Afterwards, Baugur collapsed in market and Hamleys went to the Icelandic bank “Landsbanki”. During the year 2012, a French toy retailer – “Groupe Ludendo” bought Hamleys just before, when it was acquired by a Chinese conglomerate C Banner. In the year 2010, it is finally been bought by Indian Industrialist, Mukesh Ambani of Reliance Industries.
