Reliance Retail is in talks to acquire the iconic Hamleys to shop brand.
The purchase of the global toy retailer would mark a major boost for Reliance Retail’s global ambitions and its annual growth target of 30 per cent.
Hamleys – the globally famed 259 year old toy store brand, is currently owned by the Chinese fashion wear company, C.banner. Sources close to the talks have stated that they are at an advanced stage.
The RIL-owned Reliance Retail is said to be ‘aggressively pursuing the deal.’
Reliance Retail is the retail arm of the billionaire Mukesh Ambani-owned Reliance Industries. According to various reports on the matter, Reliance Retail would have plans to increase the geographic footprint of the toy store in India, building from 50 it has currently to closer to 200.