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Kolkata, Aug. 2

Hamleys, one of the world’s largest toy shops owned by Iceland-based investment company the Baugur Group, plans to set up its first store in India over the next 12-18 months. According tosources, the company plans a 50:50 joint venture with an Indian partner and plans to have its first store in Delhi. Hamleys plans to invest nearly Rs 500 crore in India, the source added. “Hamleys is looking at overseas expansion as a key business growth driver. The company pla ns a joint venture to set up their first store in India,” an industry analyst said on condition of anonymity. According to the source, the company is in talks with “big Indian companies” including the Wadia Group. However, he could not confirm if the deal was already through. Officials of Wadia Group were not available for comment. Hamleys is also looking at other countriesincluding China, Kuwait, Dubai and Saudi Arabia.

— Our Bureau

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