Mukesh Ambani buys Hamleys
Indian business tycoon Mukesh Ambani buys leading toy store Hamleys.
India's richest man Mukesh Ambani has bought iconic toy retailer Hamleys for an undisclosed amount. According to Forbes Mr. Ambani is worth $50.7 Billion.Reliance Brands Limited, which is owned by Mr. Ambani, have an agreement to buy Hamleys from China’s C Banner company which has owned Hamleys since 2015. Hamleys which has 167 stores in 18 countries with 88 in India across 29 cities.
Founded in 1760 is the oldest toy store in the world. In 2018, Hamleys reported a loss of £9.2 Million. CEO of Reliance Brands Limited, Darshan Mehta said “The worldwide acquisition of the iconic Hamleys brand is a long cherished dream come true.”There largest and flagship store in London’s Regent Street, which is seven floors and over 50,000 different toy brands.