Reliance forays into overseas retail markets with Hamleys

The Indian conglomerates Reliance Industries' subsidiary announces plans to acquire British toy retailer Hamleys for a cash consideration of Rs. 620 crore or GBP 67.96 million.

The deal will be stuck between Reliance Brands and C Banner International Holdings, which owns Hamleys brand, for 100 per cent shares of Hamleys Global Holdings. C Banner International Holdings is a Chinese fashion conglomerate listed in Hong Kong.

Hamleys is an iconic brand started by William Hamley in 1760. Today Hamleys operates 167 stores in 18 countries, but most of the stores are based in India. Currently, another Reliance subsidiary, Reliance Lifestyle Holdings Limited is a master franchise for Hamleys' Indian operations and runs 88 Hamleys stores in 29 cities.

On Friday, at 10:40 hours, the stock of Reliance Industries was quoting Rs. 1,269.00 per share or Rs. 13.85 or 1.10 per cent on BSE. The stock being an index heavyweight was supporting the index to stay in the green. The stock contributed 42.70 points to the Sensex gains which was at 37,598.56, up by 39.65 or 0.11 per cent during the morning session.