The Nigerian Stock Exchange (NSE or “The Exchange”) announced on Tuesday, January 3, 2017 the…
Nigerian Retail Market Expansion: Hamleys eyes Nigeria Market
New franchise partnership with Smartmark Limited will see first store open in the country’s largest city Lagos this summer
Hamleys is to open its first store in Nigeria under a new franchise agreement with partner Smartmark Limited.
The first toy shop will open in Lagos this summer, and will include thousands of quality approved toys and all of Hamleys iconic features, including opportunities for children to play, engaging store design, expertise in service and amazing toy demonstration.
“I am really looking forward to bringing the Hamleys magic to the children and families of Nigeria,” said Hamleys CEO, Gudjon Reynisson. “Smartmark have extensive experience of international brands and retail in Nigeria and I am sure they will be successful and our stores well received. We are looking forward to supporting Smartmark’s team, as are our partners in the toy industry and those we work closely with on international relations at the Department of Industry.”
Mr Yakubu Gobir, Chairman of Smartmark Ltd said: “This is going to be the first real toy store in Nigeria. Smartmark are pioneers in new store launches in Nigeria and we are really excited about Hamleys and its unique experiential retailing. Nigeria represents one of the best growth opportunities to international brands on the African continent.”
International Trade Minister for the UK Mark Garnier said: “Hamleys’ expansion into the Nigerian market is more than just child’s play – Lagos is a major financial centre of Africa, with the highest GDP on the continent and an expanding middle-class market. For other British businesses looking to make the most of global demand for British goods and services, the government is committed to helping all UK companies fulfil their exporting potential.”