CosmicTaco

Playtime’s over: Hamleys revenue shrinks worldwide

CosmicTaco · 2024-08-23T16:06:49.118223+05:30

- Reliance Retail-owned Hamleys reported a drop in revenues for 2023, with significant declines across its UK and Hong Kong entities. - Hamleys of London Limited saw an 8.75% revenue drop to £46.3 million but nearly halved its losses to £2.3 million. - Hamleys (Franchising) Limited's revenues fell 10% to £7.4 million, with profits down 20% to £3.6 million. - Hamleys Asia Limited experienced a 28% revenue drop to HK$ 3.2 million, slipping into losses of just over HK$1 million. - Despite the downturn, the toy market remains promising, with Reliance Brands forming new joint ventures and partnerships to adapt to changing consumer preferences. Source: [The Arc](https://thearcweb.com/article/hamleys-revenue-reliance-retail-toys-PlQ3uBARVgeHZKlY)

Reliance Retail-owned Hamleys reported a drop in revenues for 2023, with significant declines across its UK and Hong Kong entities.
Hamleys of London Limited saw an 8.75% revenue drop to £46.3 million but nearly halved its losses to £2.3 million.
Hamleys (Franchising) Limited's revenues fell 10% to £7.4 million, with profits down 20% to £3.6 million.
Hamleys Asia Limited experienced a 28% revenue drop to HK$ 3.2 million, slipping into losses of just over HK$1 million.
Despite the downturn, the toy market remains promising, with Reliance Brands forming new joint ventures and partnerships to adapt to changing consumer preferences.

Source: The Arc