Mukesh Ambani's Reliance Brands Ltd has bought Toy Bazar's giant Hamleys. Hamleys is a 259-year-old company that makes toys. By acquiring 'Hamlets Global Holdings Limited', Mukesh Ambani has stepped into the international market for retailing of toys.
Reliance Brands declares to buy 100% stake
Reliance Brands Limited, a subsidiary of Reliance Industries Limited, has announced to buy 100% stake in Hong Kong's C Banner International Holdings. Be informed that Sea Banner Holdings is the owner of the Hamlets brand. At present, the company has not disclosed the amount of the deal.
Hamleys world's oldest toy company
Hamleys was founded 259 years ago in the year 1760. It is the world's oldest and largest toy shop. Later it was turned into a global company. Hamleys has been smiling on the children's faces for more than two centuries with their best toys. The company has been able to expand its toy with its finest quality and a great model of elaborate audition and remains the favourite of children.x
16 countries in Hamleys, 18 countries
The company has expanded its retail network with theatre and entertainment. Globally there are 167 stores in 18 countries of Hamleys. Reliance is the main franchise of Hamleys in India and operates 88 stores in 29 cities across the country. With this acquisition, Reliance Brands has hoped to grow faster and be successful in emerging as a major company in the global toy industry.
Reliance Brands president happy
In this context, Darshan Mehta, President and Chief Executive Officer of Reliance Brands, expressed his happiness and said that in the last few years, retail sales of toys under the Hamlets brand has increased considerably in the country and it has turned into a profitable business.
Reliance will become a major company in the retail business
With the acquisition of the Hamlets brand and its global business, Reliance will emerge as a major company in the retail business of the world. He said that this acquisition has had success in transforming the company's oldest dream into reality.
Hamlet's first major store was opened in London
Hamelle's first major store was opened in 1881 in Regent Street, London. Spread over seven floors and 54 thousand square feet, this store has more than 50 lakh customers annually. More than 50 thousand toys of toys are available for sale in this store.
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