Hamleys, the British originated toy company has been bought by Reliance Industries, owned by Mukesh Ambani for around 620 Crore, or 69.96 million pounds. However, Hamleys has been suffering a streak of losses broken only last year. Previously owned by the Chinese fashion conglomerate, C Banner International, who originally bought it for 100 pounds in 2015. It is unclear why Reliance would make such a risky move. While Hamleys is vastly spread out with 167 stores in 18 countries, a large concentration of these stores are in India (88 stores). Reliance is also responsible for the majority of foreign brands in India.
However, companies such as Hamleys have been facing a lot of trouble after the arrival of online shopping stores such as Amazon. Toys R Us reported bankruptcy in 2017, and many are in the verge of closing. We can only hope that Mukesh Ambani’s magic touch can save this brand from death.
What do you think? Will Ambani manage to save yet another company, or is Hamleys doomed for bankruptcy? Stay tuned for more!