New Delhi, June 1, 2022: Reliance Brands Limited (RBL) will acquire 40% stake in the Indian toy manufacturing business of “Plastics Legno S.p.A.” of Italy. For this a joint venture arrangement was signed by both the companies. This investment by Reliance Brands will further strengthen the company’s toy business. RBL is a wholly owned subsidiary of Reliance Retail Ventures. RBL has a strong presence in the toy industry. Her portfolio includes Hamleys and a household toy brand – Rowan. Hamleys currently has 213 stores in 15 countries. It is the largest chain of toy stores in India.
Reliance Brands Limited spokesperson said that this is in line with Hon’ble Prime Minister’s vision of Atmanirbhar Bharat. With Plastic Legno’s deep experience in world-class toy manufacturing, our strong foothold in the global toy retail industry will open new doors and unique opportunities for toys made in India. This will create a strong toy manufacturing ecosystem in the country not only for domestic consumption but also for global markets.
PLASTIC LEGONO SPA is owned by the Sanino Group, which has over 25 years of toy production experience in Europe. The group commenced business in the country in 2009 with an aim to penetrate the growing Indian toy market and make India a global hub for the toy markets. “We are extremely proud to have RBL as a partner in this joint venture.
We are confident that Plastics Legno’s experience in the production of toys and Hamleys’ commercial reach will complement each other to enable the joint venture company to achieve greater heights and successes. We have important development plans for India. We are ready for the challenges of the future, but when a group like RBL is together, we believe that together we can make a difference.” Paolo Sunino, Co-Owner, Sunino Group
Posted By: Navodit Saktawat