Reliance buys Hamleys
Reliance Mukesh Ambani buys British toy retailer Hamleys, on Thursday. Reliance Industries, which runs the world’s biggest crude oil refinery India. Actual cost was not Reliance did not reveal by Reliance. By this acquisition, Mukesh Ambani’s Reliance Industries enters into a worldwide retail brand.
In a statement, Darshan Mehta, chief executive of Reliance Brand opined that “The worldwide acquisition of the iconic Hamleys brand and business places Reliance into the frontline of global retail.” Reliance Retail has the licence to sell Hamleys products in India.
Iconic toy brand Hamleys was founded in 1760 with its flagship Regent Street store in Central London recognised around the globe.
Hamleys runs 167 stores across 18 countries, the majority of which are in India.