India’s wealthiest personality, Mukesh Ambani’s firm Reliance Brands Limited has inked a special deal with the aim to get hold of UK’s well knwn toy store Hamleys from China’s C- Banner. As per reports, China’s C- Banner got hold of Hamleys in the year 2015. The report added that Hamleys is a 259-year-old toy making company across the globe.
The chief executive officer of Reliance Darshan Mehta added that with its 88 stores in approximately 29 cities all over the nation which is already run by Reliance Group,
“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,” Darshan Mehta added up.
Hamleys first store at Regent Street, London is the biggest store in the globe that has 7 floors. With time, Hamley’s has set up their stores across the world with 167 stores in about 18 nations.
Hamleys: India's richest man Mukesh Ambani buys iconic toy store https://t.co/xO2FiphHES
— BBC News (World) (@BBCWorld) May 10, 2019
The 62-year-old Mukesh Ambani, who has a total net worth of over $50b has purchased the world’s oldest toy vendor.
Together with global brands like Burberry, Canali, Paul Smith, Armani, Just Cavalli, Jimmy Choo, Reliance will turn out to be one of the leading players in the toy retail business.
“Reliance Brands Ltd, a subsidiary of Reliance Industries, and C Banner International Holdings, a Hong Kong-listed company, today signed a definitive agreement for Reliance Brands to acquire 100 per cent shares of Hamleys Global Holdings Ltd, the owner of Hamleys brand, from C Banner International,” the company stated in a report.
Hamleys’ flagship store on Regent Street has over 50,000 kinds of toys on sale. The Regent Street is in fact one of London’s famous tourist attractions that receives more than 5 million visitors every year.
But yet again, Twitter has something more to say.
Reliance Industries has bought Hamleys. A subtle hint by Mukesh Ambani to Akash Ambani that he wants grandchildren.
— Bollywood Gandu (@BollywoodGandu) May 10, 2019
What happens when Ambani's kids ask for toys? He buys Hamleys
Good to see Indian companies buying global brands 👍 pic.twitter.com/1Zx0FiWLJv
— Nischal (WazirX) ⚡️ (@NischalShetty) May 9, 2019