British toy retailer Hamleys launched its first store in Mumbai at High Street Phoenix Mills. Spread over 21,000-square-feet, the UK-based brand has forayed into the Indian market through an exclusive pan India franchise agreement with Reliance Retail Ltd (RRL).
Speaking at the launch, Bijou Kurien, president and CEO Reliance Lifestyle said, “This is our flagship store in Mumbai and we will launch our 12,000 sq.ft store in Chennai in another six months.” Kurien added, “With organised toy market in India presently valued at Rs.1,500 crore, we are looking to cater to 300 million children across the country in the age group of 0-15 years. We are planning an advertising spend of Rs.50 lakhs in the next three months.”
Hamleys has signed a 20-year franchise agreement with Reliance Retail and will set up 20 stores in the first seven years of the agreement. Besides Mumbai and Chennai, other cities on the list include Delhi and Bengaluru.
Gudjon Reynisson, global CEO, Hamleys said, “The Hamleys store in Mumbai offers experiences where the entire family can enjoy the demonstrations of toys, live performances and various themes besides retailing toys.”