International Business

Mukesh Ambani's RIL Acquires Iconic British Toy Chain Hamleys, Makes International Retail Foray

Written By Radhika Sarkar | Mumbai | Published:

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  • Mukesh Ambani's conglomerate, Reliance Industries has finally acquired the iconic toy chain, Hamleys after rounds of negotiations from fashion retailer C banner.

Mukesh Ambani's conglomerate, Reliance Industries has finally acquired the iconic toy chain, Hamleys after rounds of negotiations from fashion retailer C banner. The company through its subsidiary, Reliance Brands Ltd, has signed an agreement to pick up a 100% stake in the toy retailer from C Banner International Holdings, which is a Hong Kong-listed company. 

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Meanwhile, the iconic toy chain after declaring a profit of £1.7 million in 2017, recorded a loss of £9.2 million in 2018, soon after which Chinese retail group C Banner International Holdings acquired Hamleys from Ludendo Enterprises UK Ltd. The iconic toy company has about 130 stores globally and 87 of them are in India with Reliance group planning on adding more this year. 

As per reports, Reliance Industries Limited have plans of launching an e-commerce marketplace later in 2019 that will sell everything from food, fashion and toys. 

Foreign Policy said 2019 marks the 10th anniversary of its Global Thinkers listing and it has decided to split the list into 10 categories of 10."The first group comprises thinkers who have had an enormous impact on the world in the past decade. The other groups are for people who have been influential in the past year: thinkers and doers 40 and under, as well as those in defense and security, energy and climate, technology, economics and business, science and health, and activism and the arts," it said adding the full list of 100 will be released on January 22 - the day its Global Thinkers special edition magazine goes live.

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