Strong footing in global toy retail industry would open new doors and opportunities for India-made toys
Reliance Brands Ltd (RBL) is acquiring a 40% stake in Castellamonte-based Plastic Legno SPA’s toy manufacturing business in India, saying the investment serves a dual purpose, bringing in vertical integration for RBL’s toy business and helping diversify the supply chain with a long-term strategic interest in building toy manufacturing in India.
RBL have signed a joint venture arrangement with Plastic Legno SPA, owned by the Sunino Group that boasts of more than 25 years of toy production experience in Europe and entered India in 2009 out of a need to develop a strong production hub that would cater to global markets and the fast evolving and growing Indian market.
“This collaboration with Plastic Legno’s deep experience in world-class toy manufacturing coupled with our strong footing in the global toy retail industry would open new doors and unparalleled opportunities for toys manufactured in India,” said a RBL spokesperson on 1 June 2022.
“It is imperative for RBL to build design to shelf capability for a strategic advantage over the competition and to be an accelerator in building a robust toy manufacturing ecosystem in India not only for domestic consumption but also for global markets.” the spokesperson said.
RBL has a strong play in the toy industry with its portfolio of Hamleys, the British toy retailer and homegrown toy brand, Rowan, making RBL one of the leading toy distributors. Hamleys currently has a global footprint across 15 countries with 213 doors and is India’s largest chain of toy stores.
“We are very privileged to have RBL as a partner in this Joint Venture. We are confident that Plastic Legno’s experience in Toys production and Hamley’s commercial outreach, will complement one another to enable the JV Company to achieve greater heights and successes,” said Paolo Sunino, Co-owner, Sunino Group.
“We have important development plans to implement, always in the spirit of creating a cultural background in this specific sector in India. We are ready for the challenges of the future, but when there is a group like RBL alongside, we are sure that together we can do a great development.”
Sunino Group is a privately held group of companies. Founded in Castellamonte (near Turin, Italy), the founder Carlo Sunino gained the tradition of processing wood during 1950s and in 1968 entered the polystyrene foam market, in 1988 the thermoplastic moulding sector and in 1992 the Toys sector. fiinews.com
