India's richest man, Mukesh Ambani's company Reliance Limited has signed a contract to buy UK's most iconic toy store Hamleys from China's C- Banner which had bought it in 2015.
Hamley's is a 259-year-old toy making company which makes the oldest toy company in the world. With its 88 stores in around 29 cities in the country which is already operated by Reliance Group, the CEO of Reliance Darshan Mehta adds- “Over the last few years, we have built a very significant and profitable business in toy retailing under the Hamleys brand in India. This 250-year-old English toy retailer pioneered the concept of experiential retailing, decades before the concept of creating unique experiences in brick and mortar retailing became the new global norm.
Along with International brands such as Burberry, Canali, Paul Smith, Armani, Just Cavalli, Jimmy Choo, Reliance will become one of the dominant players in the toy retail industry.