Reliance Brands Limited (RBL) and Plastic Legno SPA have signed a three way partnership association whereby RBL will purchase a 40% stake in Plastic Legno SPA’s toy manufacturing enterprise in India. According to the corporate, the funding by RBL serves a twin goal, bringing in vertical integration for RBL’s toy enterprise whereas serving to in diversifying the availability chain with a long-term strategic curiosity in constructing toy manufacturing in India.
Plastic Legno’s deep expertise in toy manufacturing coupled with RBL’s footing within the world toy retail trade would open new doorways and alternatives for toys manufactured in India, Reliance Brands Limited spokesperson said. “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 corporate added.
Plastic Legno SPA is owned by the Sunino Group that has greater than 25 years of toy manufacturing expertise in Europe. The group began its India enterprise in 2009 out of a have to develop a robust manufacturing hub that will cater to world markets, however extra importantly to the quick evolving and rising Indian market. RBL has a robust play within the Toy trade with its portfolio of Hamleys, the British toy retailer and homegrown toy model – Rowan. Hamleys at present has a world footprint throughout 15 international locations with 213 doorways.
“We have important development plans to implement, 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 great development,”Paolo Sunino, co-owner, Sunino Group, said.
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Source: www.financialexpress.com”