Sunday, September 24, 2017

Toy wars between competing retail giants

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Hamleys has received bid interest from Gulf Greetings, the Middle Eastern owner of rival toy retailer The Toy Store, as reported by Retail Week.

It is understood that The Toy Store’s owner has sent a letter of intent to Hamleys’ owner Ludendo signalling its interest in acquiring the famous name.

However it emerged in June that Chinese conglomerate Sanpower is in talks to buy Hamleys from French business Ludendo and still appears to be the most likely buyer.

A Hamleys Spokeswoman said: “There is always interest in Hamleys but we cannot offer further comment at this stage.”

Despite having signed a 27,000 square foot property deal on Oxford Street, that will see The Toy Store in direct competition with the Hamleys flagship Regent Street store, the retailer is still keen to buy Hamleys.

The Toy Store’s Oxford Street store will be the Middle Eastern retailer’s first in the UK. It will be located in the West One shopping centre on Bond Street.

Last year The Toy Store revealed plans to obtain up to six new stores in locations across the UK over the next three years.

 

Charlotte Brown

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