Reliance Brands Ltd. (RBL), a subsidiary of Reliance Retail Ventures and Plastic Legno SPA, have entered right into a three way partnership association by way of which RBL will purchase 40% stake in Plastic Legno SPA’s toy manufacturing enterprise in India. The worth of the monetary transaction was not disclosed.
“This investment by RBL serves a dual purpose, 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,” RBL stated in an announcement.
Plastic Legno SPA is owned by Sunino group that has greater than 25 years of toy manufacturing expertise in Europe. The group began its India enterprise in 2009 with an intent to develop a robust manufacturing hub that might cater to international markets, however extra importantly to the quick evolving and rising Indian market.
“This collaboration…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,” an RBL spokesperson stated.
Currently RBL’s toy portfolio embody Hamleys and Rowan.
“We are confident that Plastic Legno’s experience in toy production and Hamley’s commercial outreach, will complement one another to enable the JV company to achieve greater heights and successes,” stated Paolo Sunino, co-owner, Sunino Group.