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Reliance Retail of Mukesh Ambani has planned to invest Rs 120 crore to open 20 toy stores of UK-based Hamleys in India, an official of the company has said on Thursday, Jan 27. The company's plan is to open the 20 stores over a period of sever years. Reliance Retail today inaugurated its second Hamleys toy store at Express Avenue mall in Chennai.

Exprecing a strong market for toy in India, Hamleys has tied up with Reliance Retail for marketing its children's toys."Our first store in Mumbai which is spread across 21,000 square foot has got a very good response. It was a pilot store. Now this is a large store.

With this we have plan to open 18 stores in India over the next seven years", Reliance Retail president and Chief Executive Officer Bijou Kurien told mediapersons.

Hamleys, as part of its expansion, will open 18 more stores in India over the the 'Pilot Store-Large store' strategy. It has estimated a requirement of Rs 120 crore for opening the 18 stores, to be spread over 11,000 square foot and 21,000 square foot, Kurien said.