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Hamleys chief executive, David Smith, is to step down from the position after only six months with the iconic toy retailer.
According to Sky News, the reasons behind his departure remains unclear and it is understood that Smith will leave the group at the end of August. He was previously a chief executive for Debenhams and the Body Shop.
Sales have also reportedly suffered during the Covid-19 pandemic, as the retailer temporarily closed its flagship West End store following Government guidelines to stem the spread of the virus, Sky reports.
Last year Hamsleys was sold to Reliance Brands Limited, a subsidiary of Reliance Industries – a conglomerate holding company owned by Mukesh Ambani, one of the richest men in India.
Founded in 1760, Hamleys is one of the oldest and largest toy shops in the world.
