Hamleys is a value buy, aim to create strong omnichannel platform, says Reliance Brands CEO
Updated : May 10, 2019 01:41 PM IST
Reliance Brands, a subsidiary of Reliance Industries, on Thursday acquired the iconic British toy-maker Hamleys for around Rs 620 crore in an all-cash deal.
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.
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