Process begins to dissolve Hamleys’ UK franchising company

Reliance Industries said in a regulatory disclosure dated 29 October 2026 that the process to dissolve its indirect subsidiary, Hamleys (Franchising) Limited, in the UK had begun. For franchise businesses and prospective investors in India, the key distinction is that this action concerns a specific legal entity. It should not be interpreted as an announcement that the entire Hamleys brand or its stores in India are closing.

Registrar issues notice following voluntary application

According to a 29 October report by the news agency Bhasha, Hamleys (Franchising) Limited had voluntarily applied to be struck off the UK company register. The UK Registrar of Companies subsequently published the relevant notice in the official Gazette.

The notice states that the company will be struck off the register and dissolved no earlier than two months after 27 October 2026. A report by Economic Times Hindi clarified that the process would proceed if no objection or valid reason against dissolution emerged during that period. It would therefore be incorrect to describe the dissolution as already complete.

Reliance said it became aware of the development on 28 October. It has not disclosed the reason for the strike-off application. The available information therefore does not support linking the move to any announced business strategy, losses or changes to operations in India.

Turnover of INR 560.8 million, with a limited contribution to the group

According to the regulatory disclosure, Hamleys (Franchising) Limited recorded turnover of INR 560.8 million in calendar year 2025. Its contribution to Reliance Industries’ total consolidated turnover for the 2025–26 financial year was 0.0048 per cent. These figures indicate the size of the entity and its limited share of the group’s business.

The company’s net worth was zero as at 31 December 2025. Net worth is the amount remaining after liabilities are deducted from total assets. This should not be confused with zero turnover, as the same disclosure separately records the company’s annual turnover.

The difference in reporting periods also matters. The INR 560.8 million turnover figure relates to calendar year 2025, while the contribution to Reliance’s consolidated turnover is stated with reference to the 2025–26 financial year. These figures should not be read as the financial results of the entire Hamleys brand or its Indian business.

The relationship in India began with a master franchise

The relationship between Hamleys and Reliance predates the acquisition. Reliance Retail operated Hamleys stores in India under a master franchise arrangement that began in 2008. This arrangement formed the basis of the brand’s operations in the Indian market.

In July 2019, Reliance Brands Limited acquired the British toy retailer Hamleys. According to Bhasha’s report, the all-cash deal was worth approximately £67.9 million, equivalent to around INR 6.2 billion at the time. Reliance bought a 100 per cent stake in Hamleys Global Holdings Limited from Hong Kong-based C Banner International Holdings.

At the time of the acquisition, Hamleys had 167 stores across 18 countries. Reliance Retail was then operating 88 stores in 29 Indian cities. These are historical figures, not current store counts. Founded in London in 1760, Hamleys is one of the world’s oldest toy retail brands and is known for its flagship store on Regent Street.

Franchise partners need to identify the legal entity

Hamleys (Franchising) Limited, the entity involved in this development, is distinct in name from Hamleys Global Holdings Limited, the company at the centre of the acquisition. A notice that one company associated with a brand is being struck off cannot automatically be taken to apply to all of that brand’s companies, agreements and stores. This disclosure does not announce store closures in India or changes to the Indian master franchise arrangement.

The practical lesson for franchise partners is to check the full legal name of the contracting company when reviewing any partnership, rather than relying on the brand name alone. Partners should seek written clarification of which entity is responsible for payments, brand-use rights and operational support. In this case, too, any next steps should be guided by the relevant company’s official disclosures and the terms of the partner’s own contract, rather than headlines.