After successfully launching various verticals of retail including FMCG, electronics and consumer durables, apparel and footwear, lifestyle and home improvement categories in India, the Mukesh Ambani led-Reliance Retail Limited (RRL) has now planned to enter the country’s toy market and has thus signed a pan-India franchise agreement with Hamleys, the UK-based toy retailer.
As per the deal, the company is set to open two flagship ‘Hamleys’ stores in Mumbai and New Delhi by 2009. This will be followed by regional expansion across India over the next few years.
Commenting on this development, Bijou Kurien, president and chief executive officer, Reliance Lifestyle Holdings Private Limited said, “Our partnership with Hamleys heralds the beginning of a new era in the evolution of the toy market in India. We hope to bring world class toy stores, which will capture the imagination and attention of children in India.”
Paul Currie, trading director of Hamleys, said: “We are thrilled to bring the magic of Hamleys to India by partnering with Reliance Retail. It’s going to be an exciting stage in our international development. We are sure that our Indian customers will love the magical elements of Hamleys, which guarantees the best of past, present and future for children.”