Mumbai: Reliance Brands Limited said on Thursday it will acquire British toy brand Hamleys for an undisclosed amount.
The RIL subsidiary and Hong Kong-listed C Banner International Holdings signed a definitive agreement for Reli-ance Brands to acquire 100 per cent shares of Hamleys Global Hold-ings Limited, Reliance Brands said in a statement. The acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry, it said.
Hamleys has 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys.
Reliance Brands President and CEO Darshan Mehta said the worldwide acquisition of Hamleys brand and business places Reliance into the frontline of global retail.
Hamleys opened it flagship Regent Street London store in 1881. This store is set over seven floors covering 54,000 sq ft, with over 50,000 lines of toys on sale.
