Reliance retail, a subsidiary of Reliance Industries Limited led by Mulesh Ambani, is looking ahead introduce 20 new Hamley stores in the next three years. According to reports, the launching would require an investment of around 120 crore.
Darshan Mehta, President and CEO of Reliance Brands Limited, stated that they are planning to launch around 20 new stores in three years time. He believes that their goal is achievable. They have two stores in Mumbai and the third one is under construction. Mehta claims that they will have around five store openings, this year, considering the fact that they have their store roll out in Chandigarh, Pune, Surat. He also states that they will aim to have 11 stores by the end of the calendar year 2013.
Reliance Retail collaborated with Hamleys, UK based toy store as they inked an exclusive pan India franchise agreement in 2010. Their first store was launched in Mumbai last year. Speaking about the tie-up, Reliance Retail President and CEO, Bijou Kurien, stated that Hamleys predicts a boom in the toy industry in India and has hence partnered With Reliance, to tap the same. He also added that their first store located in Mumbai has high footfalls and has been receiving a huge response. Extending to an area of 21,000 square foot, the store is huge and massive.
The Chennai store, their second store, extends to an area of 11,000 square feet stocks and houses top- notch international toys like Lego, Mattel, Funskool, Monopoly, Transformer, Nerf,and Fisher Price along with other renowned, Indian and Chinese ones. Mr. Kurien stated that the store would cater to people from all strata of the society and display toys that are affordable to the high-end ones. In order to provide the best consumer service and resolve their every query, the store has staff trained by Hamleys Academy.