British toy retailer Hamleys has just announced it would open its first store in Lagos, Nigeria.
The heritage brand‘s new store will open in the summer of 2017, and will be the latest addition to to Hamley‘s international estate of 107 stores across 24 countries such as China, India, Russia, South Africa, the United Arab Emirates and of course the UK.
“I am really looking forward to bringing the Hamleys magic to the children and families of Nigeria,” Hamleys chief executive Gudjon Reynisson said.
The expansion into Lagos has come about after Hamleys – which was founded in 1760 – signed a development agreement for its franchise in Nigeria with Smartmark Ltd.
“This is going to be the first real toy store in Nigeria,” Smartmark chairman Yakubu Gobir said.
READ MORE: Hamleys profits plunge after £1m takeover
“Smartmark are pioneers in new store launches in Nigeria and we are really excited about Hamleys and its unique experiential retailing.
“Nigeria represents one of the best growth opportunities to international brands on the African continent.”
Mark Garnier, the UK‘s international trade minister, said the country was one of Nigeria‘s largest investors.
“The opening of this new Lagos store will add Hamleys to the list of nearly 120 UK companies already doing business in Nigeria,” he said.
“Hamleys‘ expansion into the Nigerian market is more than just child‘s play – Lagos is a major financial centre of Africa, with the highest GDP on the continent and an expanding middle-class market.”
Click here to sign up to Retail Gazette’s free daily email newsletter
