British toy retailer Hamleys has a new owner
by StuffedParty | posted in: Blog, Featured, News | 0
Image credit: Flickr (CC) / Sheep purple
The toy retail industry still undergoes massive changes. It's been a year since Toys R Us is no more in the US and UK and there are still big changes.
The latest comes from the UK where the global toy retailer Hamleys now has a new owner, The Guardian reports. The Indian conglomerate Reliance Industries is now the new owner of Hamleys.
Reliance Industries is a long time partner of Hamleys and helped the retailer expand in India. Hamleys is also the world's oldest toy shop as it was founded in 1760.
Over the years it has had several different owners from Iceland, France, China. Now Reliance is paying 68 million British pounds. The company will try once again to turn Hamleys into a global name.
The toy store chain has 167 stores in 18 countries. Most of them are in India, so the deal isn't surprising. And most of these stores are operated by Reliance Brands – a total of 88. Reliance wants to use Hamleys for a major push both on the classic retail space and online to battle the rise of Amazon and Walmart in India.
"The worldwide acquisition of the iconic Hamleys brand and business places Reliance into the frontline of global retail," he said. "Over the last few years, we have built a very significant and profitable business in toy retailing under the Hamleys brand in India", Reliance Brands' chief executive, Darshan Mehta says. As for the UK fans of Hamleys, things should change. The brand is also keeping its 7-story store on Regent Street in London.
Hamleys, news, toy store, toys
Mattel will make the new Thomas & Friends toys
The iconic Thomas & Friends show will please fans with new toys. Mattel is the...
Louisiana's black bears are off the endangered list
The Louisiana black bear, often thought to be the inspiration behind teddy bear toys, is...
Build-A-Bear launches a new brand called Kabu
Build-A-Bear is launching a new brand called Kabu. It's aimed at tweens and is inspired...
Argos recalls stuffed horse toy because of choking fears
Famous High Street retailer Argos has recalled the stuffed toy Chad Valley Pipsie the Interactive...
Jakks Pacific prepares new Teenage Mutant Ninja Turtles toy line
Jakks Pacific has announced it is preparing a new toy line for Teenage Mutant Ninja...
Golden Bear makes a new sleep aid stuffed animal
Golden Bear is making a new unique sleep aid stuffed animal. Sleep Tight All Night...