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Reliance Industries is in talks to buy toy brand Hamleys

Press Trust of India  |  New Delhi 

Ambani-led Industries is in talks to buy centuries-old British as the company expands its presence in the consumer space, sources said.

Currently, Industries' Retail has the licence to sell Hamleys' products in

is said to be aggressively pursuing the deal and due diligence for buy-out is in advanced stages, sources said.

When contacted, Reliance declined to comment on the issue.

"As a policy, we do not comment on and rumours. Our company evaluates various opportunities on an ongoing basis," a said.

In 2015, China's C.banner International had acquired in 100 million pound deal. In October last year, reported that C.banner International, which is listed on the Hong Kong Stock Exchange, had launched a strategic review of loss-making and was looking to sell it. Hamleys was founded in 1760.

In the past few years, has been diversifying beyond its core business of refining and petrochemicals and has emerged a in the telecom and

reported an over two-fold jump in its pre-tax profit to Rs 1,680 crore for the December 2018 quarter.

Reliance Industries also plans to get into the and intends to launch an for small retailers to take on and Walmart-controlled

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 17 2019. 18:15 IST