Dubai, London's famous toy store Hamleys will open in Dubai under a deal with a UAE-based group. It will be Hamleys' second overseas store after Denmark. No details have been released of where the store will be located.
Sami Daud, managing director of Daud Investments confirmed the group has tied up with Hamleys. Daud Investments will have the exclusive rights to the Hamleys franchise for the region.
The company said it is finalising the management team that will lead the venture and hopes to announce its first store after this summer. It did not provide details of the agreement.
Daud said, "At this moment we cannot say much."
Retail Arabia, a subsidiary of Daud Investments, is partnering with Hamleys for the store's first venture outside Europe. The store is named after its founder William Hamley, who first opened his first toy shop in London in 1760.
Hamleys of London Ltd was listed on the London Stock Exchange in 1994 and became Hamleys Plc. It remained a public company for nine years until 2003 when Hamleys management team took the company private in a deal with the Iceland-based retail group Baugur, according to information available on the company's website.
Its toys have been used by the British royalty.
Source : Gulf News