Reliance Industries buys global toy retailer Hamleys

Energy-to-telecoms conglomerate Reliance Industries Ltd said on Thursday it has acquired British toy retailer Hamleys, reported news agency Reuters.

The company, through its subsidiary Reliance Brands Ltd, signed an agreement to pick up a 100 per cent stake in the toy retailer from C Banner International Holdings, a Hong Kong-listed company, the report said quoting a statement from Reliance on Thursday.

The acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry, the company said.

Add WION as a Preferred Source

Hamleyshas 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys and presently operates 88 stores across 29 cities.

(With inputs from Reuters)