Hamleys bought by India’s richest man

The worlds oldest toy shop Hamleys, has been bought by India’s richest man for an undisclosed sum of money.

This brings and end to Chinese fashion conglomerate C Banner International four-year reign who originally bought the firm for £100m.

Mukesh Ambani’s Reliance Brands business will be Hamleys fourth international owner since 2003 when it was bought of the stock exchange.

The Indian company already partnered with the historic toy shop holding franchise for India where there are 88 stores across 29 cities.

Darshan Mehta, president and chief executive of Reliance Brands said, “This 250-year-old English retailer pioneered the concept of experiential retailing, decades before the concept of creating unique experiences in brick and mortar retailing became the new global norm.

“The worldwide acquisition of the iconic Hamleys brand and business, places Reliance into the frontline of global retail.”