Reliance Brands, a subsidiary of Reliance Industries Ltd (RIL), acquired UK-based toymaker Hamleys from C.banner International.
Hamleys has about 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys, and currently operates 88 stores across 29 cities.
Why acquisition was carried out?
This acquisition will make Reliance Brands to be a dominant player in the global toy retail industry.
As is known, Reliance plans to launch an e-commerce marketplace later this year that will sell everything from food, fashion to toys and this acquisition will perfectly fit into its strategy.
History of Hamleys
Hamleys is currently owned by Chinese fashion conglomerate C.banner International, which had acquired it for £100 million in 2015. Hamleys started with a single-store shop, Noah’s Ark, in 1760, around the time when the British East India Company was ruling India.