Reliance Brands to buy 40% stake in Plastic Legno SPA's toy manufacturing biz in India
1 min read 01 Jun 2022, 04:32 PM ISTReliance serves a dual purpose through this investment by bringing in vertical integration for RBL’s toy business and helping diversify the supply chain with a long-term strategic interest in building toy manufacturing in India.
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Reliance Brands, a subsidiary of Reliance Retail Ventures on Wednesday signed a joint venture arrangement with Plastic Legno SPA. Under the deal, Reliance Brands will buy a 40% stake in Sunino group-led company's s toy manufacturing business in India.
Reliance serves a dual purpose through this investment by bringing in vertical integration for RBL’s toy business and helping diversify the supply chain with a long-term strategic interest in building toy manufacturing in India, the company said in the statement today.
"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." said the spokesperson of Reliance Brands Limited.
Paolo Sunino, Co-owner, Sunino Group 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. We are ready for the challenges of the future, but when there is a group like RBL alongside, we are sure that together we can do a great development."
Plastic Legno SPA has more than 25 years of toy production experience in Europe. The group started its India business in 2009 out of a need to develop a strong production hub that would cater to global markets, but more importantly to the fast-evolving and growing Indian market.
RBL has a strong play in the Toy industry with its portfolio of Hamleys, the British toy retailer, and homegrown toy brand – Rowan, making RBL one of the leading toy distributors. Hamleys currently has a global footprint across 15 countries with 213 doors and is India's largest chain of toy stores.
