Reliance Brands. The subsidiary of Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. bought the storied brand a year ago for about 70 million pounds ($92 million), just months before the outbreak of Covid-19.“It has been quite an eventful journey," Yadav said in an interview, but “we are not holding back making long-term investments."Hamleys was opened in 1760 by William Hamley.
In recent years it has struggled and previous owners, including Ludendo Groupe of France and C.Banner International Holdings Ltd.
of China, failed to drive sales or a global expansion.Reliance Brands believes it has the best shot of succeeding as it has run the Hamleys franchise in India for the past decade and has a close affinity with the brand.