Hamleys eyes trio of toy store openings across Gulf

Hamleys, the UK toy retailer with stores in Dubai and Jordan, plans to open three further stores across the Gulf in a bid to tap into increased demand from Middle East shoppers.The iconic toy store will open outlets in Kuwait, Qatar and Saudi Arabia in the next six to 12 months, confirmed its Gulf franchise partner Retail Arabia Company.“The opportunity to open in these markets in good locations allows us to further grow the Hamleys brand in the region,” said Steve McShane, manager for Hamleys in the Middle East.The retailer said this week it saw revenue from stores in the UK and Ireland rise 15 percent in the first four months of the year, while comparable sales at international franchises rose 28 percent. Hamleys’ international business – which spans eight stores, comprises 23 percent of the privately-held company’s total sales.“Our sales compare very favourably with the other international markets and versus the UK domestic business,” McShane said.The 250-year-old toy store opened its first overseas outlet in Jordan in 2008, followed by two store openings in Dubai. Hamleys’ flagship outlet on Regent Street, which boasts seven floors of toys and games, is widely considered to be one of London’s major tourist attractions and receives some five million visitors a year.In June, the firm’s CEO Gudjon Reynisson told the Financial Times that the rise in like-for-like sales at its London store was partly due to a rise in custom from Middle East tourists.Hamleys is 64 percent owned by Icelandic bank Landsbanki Islands. The lender in February rejected a £60m bid from Global Banking Corp to sell its stake in the toy company.