Mukesh Ambani's Reliance acquires British Toy Retailer Hamleys

Reliance acquired the worldwide distribution of the 250-year old British toy retailer Hamleys which was owned by C Banner for ₹620 crores.

SHARE

Hamleys has over 88 stores in 29 states in India and over 167 stores across 18 countries. It is owned by Chinese fashion conglomerate C Banner International, However, Reliance India has now acquired 100 per cent of equity shares of Hamleys Global Holdings Limited (HGHL) for a whooping ₹620 crores. It marks the first acquisition of Mukesh Ambani-led Reliance in an overseas toy retail brand. 

As stated in Reuters, Darshan Mehta, Chief Executive of Reliance said that the worldwide acquisition of the iconic Hamleys brand and business places Reliance on the frontline of global retail. Over the last few years, they 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. He further said that it's like a dream come true for Reliance as Hamleys resonates with children and adults alike. 

Also Read- NCLT Admits Reliance Communications Ltd. For Insolvency

Notably, Reliance also embarked its journey in real estate and will be setting up a mega-city in Navi Mumbai with world-class facilities along with airport and sea-link connectivity. However, in March, Reliance had announced about leasing of 4,000 acres of land from Navi Mumbai Special Economic Zone (NMSEZ) with an initial payment of ₹2,180 crore for the development of the land into an economic hub. NMSEZ is promoted by Mukesh Ambani, Jai Corp India, SKIL Infrastructure Ltd and City and Industrial Development Corp (CIDCO).

Also Read- Mukesh Ambani To Embark His Journey In Real Estate

RELATED TOPICS