World famous toy store eyes Mideast expansion

Hamleys, the world-famous toy retailer, is looking to expand further in the Middle East, following the success of its first store in Dubai Mall, the company said on Monday.

The toy store, through Retail Arabia International, will be opening a branch in Dubai's Mirdiff City Centre, its second in the emirate, and is also currently eyeing opportunities in Saudi Arabia and Kuwait.

The company said it was looking to exploit the toy industry which has been growing at almost 12 percent annually and is worth an estimated $1.5 billion per year.

The expansion plan comes as the company announced a record global year-end festive-season sales increase of 11.6 percent for the six-week period leading to January 2, 2010.

In Dubai, Hamleys reported a festive-season sales increase of 54 percent.

Nabil Daoud, Managing Director and CEO of Retail Arabia International, said: "Here in the Middle East we have a very young population and consumers with high spending power, which makes us a top market for the toy trade.

"The impressive sales at Hamleys Dubai during the previous season prove that the brand has been warmly welcomed by Arab buyers and thus provides a solid basis for further expansion into the region."

Hamleys' flagship store on Regent Street, with over seven floors packed full of toys and games, is considered to be one of London's major tourist attractions and receives about 5 million visitors a year.

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