- Reliance Industries Limited (RIL) buys UK based toy-retailer Hamleys for Rs 620 crore (approx), Reliance acquired 100% equity shares of Hamleys.
- Hamleys is the oldest and largest toy shop in the world and one of the world's best-known retailers of toys. Founded by William Hamley in 1760.
- Hamleys has about 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys and currently operates 88 stores across 29 cities.
- This acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry.
- Reliance plans to launch an e-commerce marketplace later this year that will sell everything from food, fashion to toys and this acquisition will perfectly fit into its strategy.
Published On : 10 May 2019
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