World News

Hamleys Russia stores put up for sale

Published on: November 28th, 2019

The Hamleys chain in Russia consists of nine stores in Moscow, St Petersburg and Sochi.

It was reported by the Kommerstant newspaper on Wednesday that Russian businessman Alexander Mamut wants to sell his company Ideas4Retail, which operates Hamleys toy stores in Russia. The report cited a company presentation for potential investors.

Ideas4Retail owns the exclusive rights to develop Hamleys in Russia. The Hamleys chain in Russia consists of nine stores in Moscow, St Petersburg and Sochi.

According to the presentation, cited by Kommersant, Ideas4Retail’s owners would prefer to sell the entire business, which also includes Cookhouse shops, to one buyer but may consider selling its other chains separately.

The value of the Hamleys chain in Russia is estimated at $12.5-15.7m before royalty payments.

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