Reliance Brands to buy 40% stake in Plastic Legno SPA's toy manufacturing biz in India
Reliance Brands Limited (RBL) has announced the formation of a joint venture with Plastic Legno SPA to strengthen India's toy manufacturing ecosystem.
Reliance Brands Limited (RBL) has announced the formation of a joint venture with Plastic Legno SPA to strengthen India's toy manufacturing ecosystem. RBL will purchase a 40% share in Plastic Legno SPA's toy manufacturing business in India as part of this agreement.
RBL stated in an official statement that this investment serves a dual aim of vertical integration for RBL's toy business and supply chain diversification, with a long-term strategic interest in toy manufacturing in India.
The Sunino group owns Plastic Legno SPA and has over 25 years of toy manufacturing experience in Europe. The group launched its India operation in 2009 in response to a desire to establish a robust production base that could serve both worldwide markets and, more significantly, the rapidly expanding and growing Indian market.
Paolo Sunino, Co-owner Sunino Group said that "they have significant development plans to carry out, always intending to establish a cultural background in this area of India. they were prepared for the future challenges, but with a group like RBL by their side, they are confident that they can achieve great things".
With its portfolio of Hamleys, the British toy shop, and local toy brand Rowan, Reliance Brands already has a strong presence in the Indian toy business. Plastic Legno's extensive experience in world-class toy manufacturing and its strong position in the global toy retail sector will open new doors and provide unique opportunities for toys made in India.
