The Toy Store has confirmed that discussions with Hamleys owner Ludendo to purchase its iconic toy retailer name have ceased.
Initial reports of the retailer’s interest in the acquisition arose when Gulf Greetings, owner of The Toy Store, were first made aware of the possible sale of Hamleys.
Enquiries were made as part of the Middle Eastern company’s plans for the international expansion of The Toy Store, scheduled to open its first UK store on London’s Oxford Street this month.
However, The Toy Store has since told ToyNews that talks with Ludendo have now come to a halt, but the retailer will continue to pursue new locations for its planned UK expansion.
Peter Bracken, CEO of RM Retail/ Gulf Greetings, said: “We at The Toy store are embarking on an international expansion to bring our retail concept to the global toy and gift consumer.
“In order to replicate what we have done through our retail stores in the Middle East, it is important that we secure the right locations n order to be able to deliver that experience.
“The securing of our upcoming new store location in Oxford Street was a huge step towards making this journey a reality. Through our international search for new locations for The Toy Store, we were made aware of a possible sale of Hamleys.
“Given that they had some sites which would fall under the scope of our location criteria, we felt it worthwhile to make initial enquiries.
“These talks have ceased and as such we wish them well. Our discussions globally on new sites for The Toy Store are ongoing and we are excited about future developments.”
The Toy Store has recently signed a 27,000 sq ft property on Oxford Street, marking Gulf Greetings’ first in the UK.
The company has revealed it is seeking key locations across the UK and plan to open six new stores over the next three years.