The company's plan is to open the 20 stores over a period of sever years. Reliance Retail today inaugurated its second Hamleys toy store at Express Avenue mall in Chennai.
Exprecing a strong market for toy in India, Hamleys has tied up with Reliance Retail for marketing its children's toys."Our first store in Mumbai which is spread across 21,000 square foot has got a very good response. It was a pilot store. Now this is a large store.
With this we have plan to open 18 stores in India over the next seven years", Reliance Retail president and Chief Executive Officer Bijou Kurien told mediapersons.
Hamleys, as part of its expansion, will open 18 more stores in India over the the 'Pilot Store-Large store' strategy. It has estimated a requirement of Rs 120 crore for opening the 18 stores, to be spread over 11,000 square foot and 21,000 square foot, Kurien said.
Hamleys always hold a "local partnership" for merchandising its toys in any country, the company's Global CEO Gudjon Reynisson."Currently our toys are available in the United Kingdom, Ireland, Denmark.. Wherever we operate we have a local partner...Our association
with Reliance Retail is that they have good knowledge about the market and also know the cultural diversities of a vast country like India...," he said.
The new store here has toys for both girls and boys. The store has staff trained by Hamleys Academy. Reliance Retail, subsidiary of Reliance Industries, opened its first retail store in November 26 and now the number of the stores have gone up to 1,000 across 85 cities.
(With inputs from PTI)