NEW DELHI: Reliance Brands Limited (RBL) and Plastic Legno SPA on Wednesday announced that they have signed a joint venture arrangement through which RBL will acquire a 40% stake in latter’s toy manufacturing business in India. Plastic Legno SPA is owned by the Sunino group that has over 25 years of toy production experience in Europe. The group started its India business in 2009.
This investment by RBL serves a dual purpose, bringing in vertical integration for RBL’s toy business and helping diversify the supply chain with a long-term strategic interest in building toy manufacturing in India, the company said in a statement.
“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.” said the spokesperson of Reliance Brands Limited.
Reliance Brands has a play in the Toy industry in the country 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 are confident that Plastic Legno’s experience in Toys production and Hamley’s commercial outreach, will complement one another to enable the JV Company to achieve greater heights and successes,” said Paolo Sunino, Co-owner, Sunino Group.
Sunino Group is a privately held group of companies like Plastic Legno S.P.A. (Italy), Omnia Plast S.R.L. (Romania), Plastic Legno Romania S.R.L. (Romania), Laufer Transport S.R.L. (Romania).