India’s toy business will be captured by Mukesh Ambani! Reliance buys 40% stake in Legno
Mukesh Ambani
Highlights
- Reliance Brands Limited has set up a JV with Legno
- Legno started its business in India in the year 2009
- Hamleys and domestic brand Rowan are present in RBL’s portfolio.
After capturing the country’s oil and mobile business, now businessman Mukesh Ambani’s eyes are on the children’s world i.e. toys. A few years back, Reliance had bought international toy company Hamleys. At the same time, Reliance Brands Limited (RBL), a Reliance Group company, has set up a joint venture with Italian toy company Plastics Legno SpA.
RBL said in a statement that it has entered into a joint venture by acquiring 40 per cent stake in the Indian business of Plastics Legno. However, the company has not disclosed the amount related to this deal. RBL said the investment will help it in consolidating its toy business and diversifying its supply chain.
This will be important from the point of view of long-term strategic interests in toy manufacturing in India. RBL already has British toy company Hamleys and domestic brand Rowan in its portfolio. Plastic Legno SPA is owned by Sunino Group with 25 years of experience in toy production. Legno started its business in India in the year 2009.
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