"We expect the addition of Hamleys brand will provide a great boost to enhance the company’s overall brand value, image and exposure.”
C. Banner International has detailed its plans to open its first Hamleys flagship store in Nanjing, China this October.
The announcement follows the retail group’s latest 2016 interim results in which it saw revenue and gross profit increase 6.1 per cent and 2.2 per cent respectively.
C. Banner acquired the iconic toy brand Hamleys last year in a bid to maintain its lead of competitors to become the leading international integrated retailer and the second largest retailer in the world.
The firm believes that the expansion plans for Hamleys will help the retailer enhance its overall brand value, image and exposure.
Chen Yixi, chairman of C. Banner, said: “Although the global economy and retail industry remained weak in the first half of 2016, china still recorded a GDP growth of 6.7 per cent.
“To gain a head start over competitors, we had acquired the Hamleys brand last year, which is one of the most famous toy brands in the world.
“We are planning to open its first Hamleys flagship store in Nanjing this October and expect the addition of Hamleys brand will provide a great boost to enhance the company’s overall brand value, image and exposure.”