Hamleys chief executive to step down
Hamleys chief executive David Smith is to step down after just seven months in the role.
According to Sky News, Smith is set to leave the toy retailer at the end of this month.
Hamleys was acquired last year by Reliance Industries in a deal worth around £70 million. It was previously owned by C.Banner International which kept the business for three years.
The retailer has been battling against difficult trading conditions of late due to the Covid-19 lockdown and its flagship Regent Street store being hit by declining tourist footfall in London’s West End.
Prior to joining Hamleys, Smith was managing director of Debenhams’ international business and also held senior roles at The Body Shop, Pepe Jeans and Levi Strauss.
Sky said the reasons for his departure remain unclear.
Hamleys has around 100 stores in various international markets, many of which are operated under franchise.
