Reliance Brands will be taking Hamleys toy stores to the US and Canada. With this planned expansion, the company is aiming to capitalise on the vacuum created by the liquidation of one the world’s largest toy store chain Toys R Us.
Reliance Brands acquired the British-origin toy store chain from Chinese fashion conglomerate C Banner International for around Rs 620 crore. Recently, the firm has opened the 100th Hamleys store in India in Gurugram.
Hamleys entered into India in 2010. It had 50 stores till early last year.
Darshan Mehta, President and CEO, Reliance Brands, said, “By March 2020, we will open 150 stores. The Indian market has the potential to hold 500 Hamleys stores. The only challenge is the mall infrastructure.”
The company is in discussions with several of the world’s largest toymakers for doubling the Hamleys’ business in India in two years.
“What worked for us is tweaking the mix of products at our stores according to their locations. For instance, in our store in Dwarka in the capital, the average unit value of toys is around Rs 650, while in Khan Market, a tonier neigbourhood, we have kept the average unit price at Rs 1,400,” Mehta further stated.