This funding would assist RBL in bringing in vertical integration for its toy enterprise and diversify the provision chain
This funding would assist RBL in bringing in vertical integration for its toy enterprise and diversify the provision chain
Reliance Brands Ltd. (RBL) on Wednesday introduced that it has entered right into a JV with Italian toy manufacturing firm Plastic Legno SPA by buying a 40% stake in its India enterprise for an undisclosed quantity.
This funding would assist RBL in bringing in vertical integration for its toy enterprise and diversify the provision chain with a long-term strategic curiosity in constructing toy manufacturing in India, a joint assertion mentioned.
Plastic Legno SPA is owned by the Sunino group that boasts greater than 25 years of toy manufacturing expertise in Europe.
RBL, a subsidiary of Reliance Retail Ventures Ltd., additionally has a powerful play within the toy trade with its portfolio of British toy retailer Hamleys and homegrown toy model Rowan.
Hamleys, at present, has a worldwide footprint throughout 15 international locations with 213 doorways and is India’s largest chain of toy shops.
RBL spokesperson mentioned this collaboration with Plastic Legno’s deep expertise in world-class toy manufacturing coupled with Reliance’s sturdy footing within the world toy retail trade will open new doorways and unparalleled alternatives 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,” he added.
Sunino Group co-owner Paolo Sunino mentioned: “We are very privileged to have RBL as a partner in this Joint Venture. 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 success. We have important development plans to implement, always in the spirit of creating a cultural background in this specific sector in India”.
Plastic Legno SPA had began its India enterprise in 2009 out of a must develop a powerful manufacturing hub that may cater to world markets, however extra importantly to the fast-evolving and rising Indian market.
Sunino is a over €100 million privately held group of corporations.
Founded in Castellamonte, close to Turin, Italy, it gained the custom of processing wooden throughout the Nineteen Fifties and in 1968 entered the polystyrene foam market, in 1988 the thermoplastic moulding sector and in 1992 the toy sector.
Source: www.thehindu.com
