New Delhi: Reliance Brands ,rbl), Retail Brand Licensing Branch Reliance Industries (RIL) is set to acquire a 40% stake in Italy-headquartered Plastics Legno’s toy manufacturing business in India – Pune-based Dream Plast – for an undisclosed amount.
The deal will help Reliance Brands, which in 2019 bought British toy retailer Hamleys for Rs 620 crore, strengthen its toy production in the country. Apart from Hamleys, RBL also owns domestic toy brand Rowan.
The deal comes against the backdrop of global retailers such as Ikea Looking to increase sourcing of toys from India, even if they are wooden. A joint statement by both RBL and Plastics Legno said the investment will not only help RBL bring vertical integration for its toy business, but also diversify its supply chain with a long-term strategic interest in manufacturing toy manufacturing in India. will allow.
An RBL spokesperson said, “Creating design-to-shelf capability for RBL to have an advantage over the competition and an accelerator in building a strong toy manufacturing ecosystem in India, not only for domestic consumption but also for global markets. It’s a must have.” ,
Dream Plast, which operates three factories in India, is a plastic injection molding company specializing in the production of toys, food packaging containers, sporting goods and childcare products. It is a subsidiary of Sunino Group’s Plastics Legno which specializes in “transformation of plastic materials”.
While the government last year approved eight toy clusters across India at a cost of Rs 2,300 crore. PM Narendra Modi Said that 85% of toys sold in India are imported, the country’s share in the $100 billion global toy market is very low.
The deal will help Reliance Brands, which in 2019 bought British toy retailer Hamleys for Rs 620 crore, strengthen its toy production in the country. Apart from Hamleys, RBL also owns domestic toy brand Rowan.
The deal comes against the backdrop of global retailers such as Ikea Looking to increase sourcing of toys from India, even if they are wooden. A joint statement by both RBL and Plastics Legno said the investment will not only help RBL bring vertical integration for its toy business, but also diversify its supply chain with a long-term strategic interest in manufacturing toy manufacturing in India. will allow.
An RBL spokesperson said, “Creating design-to-shelf capability for RBL to have an advantage over the competition and an accelerator in building a strong toy manufacturing ecosystem in India, not only for domestic consumption but also for global markets. It’s a must have.” ,
Dream Plast, which operates three factories in India, is a plastic injection molding company specializing in the production of toys, food packaging containers, sporting goods and childcare products. It is a subsidiary of Sunino Group’s Plastics Legno which specializes in “transformation of plastic materials”.
While the government last year approved eight toy clusters across India at a cost of Rs 2,300 crore. PM Narendra Modi Said that 85% of toys sold in India are imported, the country’s share in the $100 billion global toy market is very low.