Indian magnate buys 259-year-old Hamleys toy store chain

Hamleys, which makes the claim of operating the oldest toy store in the world, is being acquired by Reliance, owned by Mukesh Ambani, reportedly India’s richest businessperson. The chain currently runs 167 stores in 18 countries, 88 of which are in India. Mr. Ambani hopes to further develop the company to better compete with Amazon and Walmart as the two giants make inroads into the country.