Iconic Toy Retailer Hamleys Sold to Reliance Brands Limited
- Hamleys sold to Reliance Brands Limited
- Reliance Industries owned by Mukesh Ambani, India’s richest man
- C.Banner International sells 100% of shares in Hamleys
- Deal completed on 9 May
- Hamleys has 250 years of history as the oldest and largest toy shop
- 167 stores across 18 countries
- 88 stores in India by Reliance Brands
- Experiential retailing pioneer
- Reliance enters global retail frontline
The iconic toy store Hamleys has been acquired by Reliance Brands Limited, a subsidiary of Reliance Industries owned by Mukesh Ambani, the richest man in India and the 13th richest person globally. C.Banner International sold all its shares in the toy store to Reliance Brands Limited in a deal completed on May 9th. In October, it was reported that C.Banner was considering selling the toy store after reporting a £9.2m loss in 2017. Founded in 1760, Hamleys has over 250 years of history as the oldest and largest toy shop globally. With 167 stores across 18 countries, Hamleys is now under Reliance’s control in India, operating 88 stores in 29 cities. Darshan Mehta, president and CEO of Reliance Brands, said: ‘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 idea of creating unique experiences in brick-and-mortar retailing became the new global norm. The worldwide acquisition of the iconic Hamleys brand and business places Reliance at the forefront of global retail.’
Factuality Level: 10
Factuality Justification: The article provides accurate information about the sale of Hamleys to Reliance Brands Limited and includes relevant details such as the history of the toy store, its global presence, and the CEO’s perspective on the acquisition.
Noise Level: 3
Noise Justification: The article provides relevant information about the sale of Hamleys toy store to Reliance Brands Limited and quotes from Darshan Mehta, but lacks in-depth analysis or exploration of long-term trends or consequences. It also does not offer much actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: Reliance Industries’ acquisition of Hamleys impacts the toy retail industry in India and potentially globally, as Reliance Brands Limited expands its presence in the sector.
Financial Rating Justification: The acquisition involves a significant financial transaction between two companies and has implications for the toy retail market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text
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