Mukesh Ambani in Talks to Buy ‘Hamleys’ – a 295-Year Old Toymaker

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Mukesh Ambani, the wealthiest man of India recently planned to purchase Hamleys, one of the popular British toy stores. There are some reports that Reliance Retails is currently seeking to buy a toy store from the current Chinese company. As of now, Reliance owner is in talks with C Banner International, the Chinese conglomerate that owns the popular toy company.

The news has been revealed recently wherein the Reliance Retail is planning to finish the deal in an aggressive manner and the deal is currently in its final stage. Hamleys is one of the most popular toy stores which was originally established several years back. In India, this company has witnessed immense development and rose to become a leading toy retailer.

In case, if Ambani is likely to finish this acquisition of the renowned brand then, Ambani will surely witness an instant improvement in their business. Reliance Brands is the biggest operator of Reliance Retail is the current owner of Hamleys in India. This company runs a huge number of foreign labels in the nation.

Mukesh Ambani has a new weapon in his hands in the form of Hamleys through which he tries to get the country through a huge storm via his eCommerce attempt. Reliance will soon transform its company into a marketplace that sells everything that ranges from fashion items to toys and other food products.

If this deal goes well in the company, Reliance Retail will surely expand its services across the country via Hamleys’ footprint. Through this, it will definitely make Ambani augment his status and rank in the retail business.

As of now, Reliance Retail doesn’t have utmost acknowledgment in the country as a footprint firm. With the acquisition, Hamleys will offer Reliance Retail a worldwide footprint. As of now, Reliance Retail runs 9907 outlets all over 6400 cities spreading a retail region of more than 21 million square feet.

Published by Mamatha Reddy on 19 Apr 2019

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