India's richest man, Mukesh Ambani's company Reliance Brands Limited has signed a contract to buy UK's most iconic toy store Hamleys from China's C- Banner which had bought it in 2015.
Hamley's is a 259-year-old toy making company which makes it the oldest toy company in the world. With its 88 stores in around 29 cities in the country which is already operated by Reliance Group, the CEO of Reliance Darshan Mehta adds ,
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
Hamleys first store at Regent Street, London is the largest store in the world having 7 floors. With time Hamley's has built their stores around the globe with 167 stores in 18 countries.
Hamleys: India's richest man Mukesh Ambani buys iconic toy store https://t.co/xO2FiphHES— BBC News (World) (@BBCWorld) May 10, 2019
Along with International brands such as Burberry, Canali, Paul Smith, Armani, Just Cavalli, Jimmy Choo, Reliance will become one of the dominant players in the toy retail industry.
But again, Twitter has always more to say.
What happens when Ambani's kids ask for toys? He buys Hamleys— Nischal (WazirX) ⚡️ (@NischalShetty) May 9, 2019
Good to see Indian companies buying global brands 👍 pic.twitter.com/1Zx0FiWLJv
Reliance Industries has bought Hamleys. A subtle hint by Mukesh Ambani to Akash Ambani that he wants grandchildren.— Bollywood Gandu (@BollywoodGandu) May 10, 2019