Reliance Brands Limited Will Buy Large Stake In Plastic Legno SPA
Reliance Brands Limited will buy a large stake in Italy’s toy company Plastic Legno SPA, which will increase its hold on the toy market.
Reliance Brands Limited (RBL) is taking a 40% stake in the Indian toy manufacturing business of “Plastic Legno SPA.” of Italy to increase its grip on the toy market.
For this, a joint venture arrangement has been signed by both companies. This investment by Reliance Brands will further strengthen the company’s toy business.
Significantly, RBL is a wholly-owned company of Reliance Retail Ventures. Even at present, RBL has a strong presence in the toy industry.
Its portfolio includes Hamleys and a home toy brand- Rowan. Hamleys is spread across 15 countries and currently has 213 stores in these countries. It is the largest chain of toy stores in India.
Reliance Brands Limited’s spokesperson said that this is in line with the 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, the spokesperson said.
He said that this would create a strong toy manufacturing ecosystem in the country not only for domestic consumption but also for global markets.
Please inform that Plastics Legno SPA is owned by Sanino Group. It has over 25 years of experience in toy production in Europe.
The group started business in the country in 2009 to penetrate the growing Indian toy market.
Paolo Sunino, Co-Owner, Sunino Group, said, “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, the joint venture will complement each other to enable the company to achieve greater heights and successes.”
Paolo Sunino said, “We have important development plans for India”.
“We are ready for the challenges of the future, but when a group like RBL comes together, we believe that together we can make a difference.”
