Picture credits: Wikimedia Commons
World’s oldest toy retailer has been bought by India’s dominant industry Reliance
Mukesh Ambani’s Reliance Industries Ltd (RIL) announced that it has acquired British toy retailer Hamleys for 67.96 million pounds, through its subsidiary Reliance Brands. It has signed an agreement that it would acquire 100 per cent equity shares of Hamleys Global Holdings Limited (HGHL) from C Banner International Holdings, a Hong Kong-listed company. Hamleys is the oldest and largest toy shop in the world which operates through 88 stores in 29 cities in India, and 116 locations worldwide. This acquisition will forward Reliance Brands dominance in the global toy retail industry and open the door as an overseas retail brand.
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