Reliance to buy minority stake in Plastic Legno’s Indian toy business
Reliance Brands Limited (RBL), a subsidiary of Reliance Retail Ventures, has entered into joint venture (JV) partnership with Italian toy manufacturer Plastic Legno.
Through this deal, RBL will purchase a 40% stake in Plastic Legno’s toy manufacturing business in India.
Plastic Legno, which is owned by Sunino group, entered India in 2009 with the goal of building a robust production hub to serve global markets, primarily India.
RBL said that the acquisition is part of its strategy to streamline its toy business and expand the supply chain in the Indian toy market.
RBL spokesperson said: “Keeping with our honourable Prime Minister’s vision of Atmanirbhar India, this collaboration with Plastic Legno’s deep experience in world-class toy manufacturing coupled with our strong footing in the global toy retail industry would open new doors and unparalleled opportunities for toys manufactured in India.
“It is imperative for RBL to build design to shelf capability for a strategic advantage over the competition and to be an accelerator in building a robust toy manufacturing ecosystem in India not only for domestic consumption but also for global markets.”
RBL started business in 2007 and owns British toy retailer Hamleys, which it acquired in 2019 and homegrown toy brand, Rowan.
Currently, Hamleys operates network of 213 stores across 15 countries.
The newly acquired Plastic Legno has more than 25 years of toy production experience in Europe.
Sunino Group co-owner Paolo Sunino said: “We are confident that Plastic Legno’s experience in Toys production and Hamley’s commercial outreach, will complement one another to enable the JV company to achieve greater heights and successes.
We have important development plans to implement, always in the spirit of creating a cultural background in this specific sector in India.”