Mukesh Ambani, renowned as India’s wealthiest individual and the driving force behind Reliance Industries, has acquired the iconic Hamleys, the world’s oldest toy store, in a significant all-cash transaction amounting to Rs 620 crore. The storied history of Hamleys dates back to 1760 when it was founded by William Hamley. Over its remarkable 260-year existence, this venerable toy haven has weathered numerous challenges, emerging stronger each time. Ownership of the store has transitioned through several hands, marking its journey.
Reliance Industries, under the leadership of Mukesh Ambani, secured the acquisition of Hamleys for a substantial sum of GBP 67.96 million, as detailed in a filing with the Bombay Stock Exchange (BSE). The filing elucidates, “Reliance Brands would acquire 100 per cent equity shares of ‘Hamleys Global Holdings Limited (HGHL) for a cash consideration of GBP 67.96 million’.”
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In 1760, William Hamleys inaugurated his inaugural store in Hall Bourne, London. The legacy was continued by his grandson, who introduced a new toy emporium named Joy Emporium on Regent Street in 1881, a store celebrated by the British royal family. A testament to its distinction, Queen Elizabeth herself hailed Hamleys as her preferred toy store in 1955. Through the years, Hamleys has expanded its global footprint across Europe, Asia, the Middle East, Africa, and North America. Presently boasting 100 outlets dispersed across 36 cities, Hamleys reigns as the premier toy retailer in the nation. Impressively, a substantial majority of the 190 Hamleys locations worldwide under Reliance’s ownership are situated in India, underlining the brand’s influence on children and families globally.
Mukesh Ambani’s strategic investment in retail has witnessed expansive growth in recent years, exemplifying Reliance’s forward-looking strategy. This acquisition aligns with Reliance’s overarching goal of expanding its retail endeavors across new horizons.
Under the astute guidance of Mukesh Ambani and Isha Ambani, Reliance Retail has amassed a staggering valuation of Rs 9,26,055 crore according to brokerage firm Bernstein, a testament to their dynamic leadership and business acumen.