Hamleys To Take Its Toys To Region

Financial Times:

Hamleys, the historic toy seller with the flagship store on London’s Regent Street, is expanding into India with plans to build a network across the country of 20 stores, writes Joe Leahy in Mumbai.

The 248-year-old group, which is also planning 20 stores across the Middle East, yesterday announced a tie-up with a unit of Reliance Industries, India’s largest private sector company, which will act as Hamleys’ franchisee in the subcontinent.

“We see the international market as probably becoming the biggest element of our business,” said Paul Currie, trading director of Hamleys, which is owned by Baugur, the Icelandic investment group.

India has one of the world’s youngest populations, with nearly half of its 1.1bn population below the age of 25 and 300m under 15.

However, the country has one of the world’s lowest spending patterns on toys.