- 02 Jun 2022
- ICICIdirect Research
Reliance brands signs joint venture agreement with European toy maker Plastic Legno SPARELIANCE - 2331 Change: 96.35 (4.31 %)
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.