Hamley's chooses Mexico for first Latin American store
Iconic toy brand HamleyÂ’s has chosen to open its first Latin American store in Mexico.
The announcement comes as the UK welcomes the President of Mexico, Enrique Peña Nieto, for a State Visit from 3 to 5 March as part of the 2015 Dual Year of the UK in Mexico and Mexico in the UK.
A joint statement released by the Department for Business Innovation and Skills and UK Trade & Investment reveals that trade between the UK and Mexico is enjoying double-digit growth, with bilateral trade in 2013 at £3.3 billion, up by 15% compared to 2012.
Mexico is the UK’s fourth largest market for goods exports, and the UK is Mexico’s fifth largest inward investor. This makes Mexico the UK’s second largest trading partner in Latin America, only behind Brazil.
Hamley’s will join other well-known British brands like Thomas Pink and Hackett London which have set up shops in Mexico.
This week it has also been announced that British luxury carmakers Lotus and McLaren are to open showrooms in Mexico City as part of a drive to increase sales in the country.
Business Secretary Vince Cable said: “Mexico is an important growth market for our exports and British firms can also use Mexico as a base for wider operations throughout Latin America. Mexico is returning to the Formula One calendar this year which will fuel interest in McLaren and Lotus cars and British manufacturing more generally.
“The arrival of British toy store Hamley’s in Mexico City, to complement their existing stores around the world, is another sign of the appeal of British brands across the globe, and demonstrates how an introduction by UKTI can lead to great things.”
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