Mukesh Ambani bought the world's oldest toy store Hamleys at Rs 620 crore in an all-cash deal.
Mukesh Ambani, India’s richest man and head of Reliance Industries owns Hamleys, the world’s oldest toy store. Hamleys was established in 1760 by William Hamley. This toy shop, which is about 260 years old, experienced numerous difficulties before standing up without incident. Its ownership has also changed several times.
Reliance Industries bought the store at Rs 620 crore (GBP 67.96 million) in an all-cash deal.
In a BSE filing, RIL said, "Reliance Brands would acquire 100 per cent equity shares of 'Hamleys Global Holdings Limited (HGHL) for a cash consideration of GBP 67.96 million'."
William Hamleys opened its first store in Hall Bourne, London in 1760 and in 1881 his grandson opened a new toy store named Joy Emporium on Regent Street which was appreciated by the royal family of Britain.
The British monarch Queen Elizabeth described the Hamleys store as her favourite toy store in the year 1955. With time, Hamleys has grown its global presence in Europe, Asia, the Middle East, Africa, and North America.
Haleys currently has 100 stores spread across 36 cities. It is currently the country's largest toy retailer. Over half of the 190 locations that the Reliance-owned Hamleys currently operate worldwide are in India. Hamleys toys are famous among children and their parents across the world.
the billionaire Mukesh Ambani has boosted his retail spending internationally over the past several years and has expressed interest in purchasing new businesses as part of Reliance's ambitious expansion strategy for its retail company.
Mukesh Ambani and Isha Ambani-led Reliance Retail is now valued at a whopping Rs 9,26,055 crore by brokerage firm Bernstein.
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