- 02 Jun 2022
- ICICIdirect Research
RELIANCE BRANDS SIGNS JOINT VENTURE AGREEMENT WITH EUROPEAN TOY MAKER PLASTIC LEGNO SPA
RELIANCE - 1299 Change: -12.95 (-0.99 %)News: Reliance Brands, a subsidiary of Reliance Retail Ventures, signed a joint venture arrangement with Plastic Legno SPA. Under the deal, Reliance Brands will buy a 40% stake in Sunino group-led company's toy manufacturing business in India.
Views: RBL already has a strong play in the toy industry with its portfolio of Hamleys (the British toy retailer) and homegrown toy brand – Rowan, making RBL one of the leading toy distributors in India. The investment by RBL in Plastic Legno SPA would serve a dual purpose by bringing in vertical integration for RBL’s toy business and also aiding in diversifying the supply chain with a long-term strategic goal of building a toy manufacturing ecosystem in India, which can be utilised for supplying quality toys to both domestic and international markets.
Impact: Positive