India’s tycoon, Mukesh Ambani, on Thursday signed an agreement to buy UK’s iconic toys chain, Hamleys. The company was founded in 1760 and is the world’s oldest toy retailer. It has a presence in 18 countries and has 167 stores.
Reliance Industries was already operating the 88 Hamleys stores across 29 Indian cities, but the acquisition was in mind for years. The CEO, in his statement, said, “The worldwide acquisition of the iconic Hamleys brand…. is a long-cherished dream come true.”
Ever since the news broke the Internet, netizens started guessing the reason behind the acquisition.