Reliance Brands acquires 40% stake in Italy's Plastic Legno SPA's India toy biz

RIL Group firm, Reliance Brands Ltd (RBL), will acquire a 40% stake in Italy's Plastic Legno SPA's toy manufacturing business in India. The investment brings in vertical integration for RBL's toy business and also helps diversify the supply chain with a long-term strategic interest in building toy manufacturing in India. Plastic Legno SPA is owned by the Sunino group that 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. RBL has a strong play in the toy industry with its portfolio of Hamleys, the British toy retailer and homegrown toy brand – Rowan. Hamleys currently has a global footprint across 15 countries with 213 doors and is India's largest chain of toy stores.