Reliance Retail to integrate toys business through JV with Circle E retail

New Delhi, Apr 24 (KNN) Reliance Retail has entered into a joint venture (JV) with Circle E Retail to vertically integrate its toy business, reported TOI.

The former is India’s leading retailer which owns British toy brand Hamleys and home-grown toy brand Rowan.

It has entered into a JV with a Haryana-based firm for local manufacturing to meet the growing demand.

“We also had a JV with Circle E retail for toy manufacturing for vertical integration for our toys retailing business,” said Reliance Retail CFO Dinesh Taluja during an earnings call last week.

The company is now working on a strategy of integrating processes from design to shelf, according to industry sources, reported TOI.

Under this, Reliance Retail would have control over the entire aspects of the toy ecosystem, right from designing and manufacturing to retailing of the product.

This will also help Reliance reduce dependency on third-party manufacturers in phases.  (KNN Bureau)