Playtime’s over: Hamleys revenue shrinks worldwide

• 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