By Grace Bowden2019-05-10T06:27:00
Hamleys has been snapped up by Indian titan Reliance Industries in a £70m deal.
The iconic retailer marks Reliance Industries’, which is owned by Indian billionaire Mukesh Ambani, first overseas acquisition.
Reliance Industries retail arm Reliance Retail operates Hamleys’ 88-strong retail estate in India. The business, which has made a name for itself as the leading telecoms business in the country, is now gearing up for a retail onslaught in a bid to take on the likes of Amazon and Walmart in India.
Reliance has acquired Hamleys from Chinese retail group C.banner, which has owned the toy retailer since 2015.
Please sign in now if you have a subscription
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.