Hamleys, the 250 year old London toy retailer, has signed an agreement with Seoul-based Gymworld to open 20 stores in Korea over the next five years. The world-famous toy shop, which is already established in 22 countries, will also open a ‘Hamleys World’ featuring retail and theme park attractions.
Hamleys appointed East Asia market specialists Intralink to deliver an opportunity assessment, develop its Korea strategy and identify suitable franchise partners to build the business and grow the brand.
Michal Waszkiewicz, Project Director and Retail Specialist at Intralink Korea, said, “After meeting with many local retailers, brand owners and mall operators, we concluded that Korea represented a significant opportunity for Hamleys.
“We shortlisted a number of prospective partners, including Gymworld, manufacturer of the award-winning toy brand Magformers. They presented a compelling business plan and demonstrated a deep appreciation of Hamleys’ core brand values and heritage, making them the obvious choice.”
The contract was signed last week at the Seoul residence of UK Ambassador, Charles Hay, by Hamleys CEO Gudjon Reynisson and Gymworld CEO Keeyong Park. “We know the philosophy, spirit and vision of Hamleys well, so we will create stores which meet its values," Park said after the signing ceremony.