In Play: Reliance Retail in talks to buy out 259-year-old British toymaker Hamleys
Updated : April 17, 2019 12:34 PM IST
The purchase of Hamleys, which has its flagship store on London’s Regent Street, will illustrate the growing international ambition of Reliance Retail, which has a target of growing at 30 percent every year for a decade.
In recent years, though, it has been struggling due to uncertainty over Brexit and softening UK consumer confidence. It reported a loss of 12 million pounds in 2017 and a 2.5 percent decline in annual revenues to 66.3 million pounds.
Hamleys has around 129 stores globally, a large majority of which are under the franchise model and outside the United Kingdom, the company is present in China, Germany, Russia, India, South Africa, the Middle East and other regions.
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