Hamleys, a 259-year-old toymaker, has struggled to generate profits in recent times.
It reported a profit after tax of £2.44 million in 2018 after suffering a loss of £11.24 million in 2017…It is currently owned by Chinese fashion conglomerate C Banner International.Hamleys, a 259-year-old toy-maker, has struggled to generate profits in recent times. It reported a profit after tax of 2.44 million pounds in 2018 after suffering a loss of 11.24 million pounds in 2017.
In India, Reliance has the master franchise for Hamleys and presently operates 88 stores across 29 cities.
Reliance Brands President and CEO Darshan Mehta said the worldwide acquisition of the iconic Hamleys brand and business places Reliance on the front-line of global retail.
Personally, it is a dream come true, he added.
“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,” Mehta said.
Hamleys was delisted from the London Stock Exchange (LSE) in 2003 when it was taken over by Icelandic investment firm Baugur Group for USD 68.8 million.
Hamleys opened its flagship Regent Street London store in 1881. This flagship store is set over seven floors covering 54,000 sq ft, with over 50,000 lines of toys on sale. It is considered one of London’s prominent tourist attractions, receiving over 5 million visitors each year.