On 9th May 2019, Reliance Industries acquired global toy retailer Hamleys.

Reliance Industries is a producer popularly known for the world’s biggest single-location crude oil refinery in western India. The company is now looking forward to expand into a consumer-facing sector through its retail and telecoms ventures. This would be the first acquisition by Reliance Industries in an overseas retail brand.

The deal price is not yet disclosed to the public. However, the company through which Reliance bought Hamleys, Hong Kong-listed C Banner International Holdings said in 2015 they bought it for 100 million pounds ($130.2 million) from France’s Groupe Ludendo.

Now, after the acquisition Reliance Retail has the license to sell Hamleys products in India.

Hamleys, the toy seller is of 167 stores across 18 countries. Most of them established in India. Reliance now owns the master franchise of the company. It operates 88 Hamleys stores across 29 Indian cities.

Hamleys acquisition would help Reliance brands to shoot up and become a dominant player in the global toy retail industry.