The FD LAB Group has signed a franchise agreement to develop the Hamleys chain in Russia according to the president of the company, Alexander Lopatin.
Lopatin said the group plans to open several Hamleys stores in Moscow.
The first store will be a 1,750 square-metre shop, opening in September or October on Moscow's central Tverskaya Street, home to Tiffany & Co and Nokia's luxury unit Vertu stores.
Many retailers faced with sluggish growth at home are keen to expand to emerging markets such as Russia, which still offers high growth potential despite the downturn.
Swedish fashion giant H&M opened its first two Russian stores in Moscow in March and is looking to open more. Wal-Mart has also repeatedly expressed interest in the Russian market, while France's Carrefour is scheduled to open its first Russian hypermarket within weeks.