Reliance Brands Limited (RBL) and Plastic Legno SPA have signed a joint venture arrangement wherein RBL will acquire a 40% stake in Plastic Legno SPA’s toy manufacturing business in India. According to the company, the investment by RBL serves a dual purpose, bringing in vertical integration for RBL’s toy business while helping in diversifying the supply chain with a long-term strategic interest in building toy manufacturing in India.
Plastic Legno’s deep experience in toy manufacturing coupled with RBL’s footing in the global toy retail industry would open new doors and opportunities for toys manufactured in India, Reliance Brands Limited spokesperson stated. “It is imperative for RBL to build design to shelf capability for a strategic advantage over the competition and to be an accelerator in building a robust toy manufacturing ecosystem in India not only for domestic consumption but also for global markets,” the company added.
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, but more importantly to the fast evolving and growing Indian market. 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.
“We have important development plans to implement, in the spirit of creating a cultural background in this specific sector in India. We are ready for the challenges of the future, but when there is a group like RBL alongside, we are sure that together we can do great development,”Paolo Sunino, co-owner, Sunino Group, stated.
Read Also: Vi rolls out its ad-tech platform Vi Ads