Reliance Retail in talks to buy loss-making toy store chain Hamleys

The 250-year-old enterprise, on the block since September 2018, is facing intense competition from online stores such as Amazon, but Reliance expects to get a global footprint with the acquisition

C.banner International, the Chinese owner of toy store chain Hamleys, is said to be in the final stage of talks with Mukesh Ambani’s Reliance Retail to sell the centuries-old British company.  

In 2015, C.banner International had paid $153 million for Hamleys, and since then the toy retailer has witnessed declining sales and valuations amid intense competition from online stores. The loss-making firm was finally put on the block in October last year.  

If the talks succeed, Reliance Retail will be the fourth owner of the iconic chain in the past 15 years. Reliance already has a master franchise agreement with Hamleys for