Reliance Retail announced on Sunday (April 23) that it has entered into a joint venture with a Haryana-based company for local production of toys to meet the growing demand. Reliance Retail currently owns the British toy brand Hamless and the homemade toy brand Rowan. The new venture will cater to both toy brands, sources said. Reliance Retail is playing a major role in the B2B toys segment, operating through Rowan.
“We had a JV with Circle E retailer to produce toys for vertical integration for our toy retail business,” Dinesh Taluja, CFO of Reliance Retail, said during an earnings call last week.
