C.banner to buy iconic UK toy store Hamleys

Footwear firm's move seen as significant for globalizing operations, moving up the ladder

C.banner International Holdings Ltd, the Chinese footwear company, is poised to buy the 255-year-old British toy retailer Hamleys for around 100 million pounds ($154.1 million), as part of efforts to enhance its global branding strategy.

C.banner confirmed in a statement to the Hong Kong stock exchange on Thursday that discussions to buy Hamleys, from French retailer Groupe Ludendo, were at an "advanced stage".