Reliance Industries rose 1.08% to Rs 1268.70 at 10:38 IST on BSE after the company announced acquisition of british toy retailer Hamleys for GBP 67.96 million.
The announcement was made after market hours yesterday, 9 May 2019.Meanwhile, the S&P BSE Sensex was up 11.20 points, or 0.03% to 37,570.11.
On the BSE, 2.48 lakh shares were traded in the counter so far compared with average daily volumes of 8.34 lakh shares in the past two weeks. The stock had hit a high of Rs 1277.90 and a low of Rs 1262.20 so far during the day. The stock hit a 52-week high of Rs 1,417 on 3 May 2019. The stock hit a 52-week low of Rs 907.10 on 30 May 2018.
Reliance Industries said that its subsidiary, Reliance Brands (RBL), and C Banner International Holdings, a Hong Kong-listed company, signed a definitive agreement for Reliance Brands to acquire 100% shares of Hamleys Global Holdings, the owner of the Hamleys brand, from C Banner International, for a cash consideration of GBP 67.96 million.
Founded in 1760, Hamleys has over 250 years of celebrated history of being the oldest and largest toy shop in the world. Globally, Hamleys has 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys, and currently operates 88 stores across 29 cities. This acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry.
Hamleys opened its flagship Regent Street London store in 1881. This flagship store is set over seven floors covering 54,000 square feet, with more than 50,000 lines of toys on sale. It is considered one of London's prominent tourist attractions, receiving over 5 million visitors each year. Children and teens from all over the world visit the store for its year-round events, parades, demonstrations and elaborate displays.
Reliance Brands (RBL), part of the Reliance Industries (RIL), began operations in 2007 with a mandate to launch and build international and domestic brand equity in the premium to luxury segment across fashion and lifestyle space.
Reliance Industries' consolidated net profit rose 9.79% to Rs 10362 crore on 18.60% rise in net sales to Rs 138659 crore in Q4 March 2019 over Q4 March 2018.
Reliance Industries' activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.
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