India's Richest Man To Buy Hamley's Toy Shop

10th May 2019

Hamleys, which was founded in 1760, is the world's oldest toy retailer and has 167 stores across 18 countries.

The richest man in India, Mukesh Ambani, has bought British toy retailer Hamley’s for an undisclosed sum. According to Forbes, Mr Ambani is worth $50.7bn (€45.2bn).

Reliance Brands Limited, which is owned by Mr Ambani, said it had signed an agreement to buy the company from China's C Banner International which had acquired it in 2015.

"The worldwide acquisition of the iconic Hamleys brand.... is a long-cherished dream come true," Darshan Mehta, the CEO of Reliance Brands Limited, said in a statement.

Hamleys, which was founded in 1760, is the world's oldest toy retailer and has 167 stores across 18 countries.

Last year, Hamleys reported a £9.2 million (€10.7 million) loss, blaming Brexit and the threat of terrorism for the downturn.

However its 138-year-old, seven-floor flagship store in London's Regent Street, continues to draw tremendous crowds.

In Malta, the Hamleys store at the Pama Shopping Village in Mosta, which opened in 2015, was the 64th shop to open under the brand’s banner in 22 countries.


Vanessa Conneely - 15th May 2019

Statement comes as trade war with the US continues to escalate.

Vanessa Conneely - 15th May 2019

Company value still considered volatile despite ten-month high this week.

Vanessa Conneely - 6th May 2019

US President says Beijing is proceeding “too slowly”.

Vanessa Conneely - 25 April 2019

The social media giant is being investigated for its privacy practices.