Shillong, October 4: Reliance Brands Limited (RBL), through its UK subsidiary (RBUK), has sealed a significant deal with global fashion brand Superdry PLC.
The joint venture will see the acquisition of Superdry’s intellectual property assets for India, Sri Lanka, and Bangladesh.
As per IANS, in this partnership, RBUK and Superdry will have ownership stakes of 76% and 24%, respectively. The transaction for these intellectual property rights amounts to £40.0 million, resulting in Superdry PLC receiving estimated gross cash proceeds of £30.4 million (£28.3 million net of fees and taxes) from RBUK.
Reliance Brands Limited initially established a long-term franchise agreement with Superdry PLC in 2012, introducing the brand to the Indian market. This strategic development in brand ownership is aimed at capitalizing on the growing affluence and changing consumption patterns of Indian consumers.
It also aligns with Reliance Brands’ commitment to invest in accelerating the Indian consumption narrative, allowing Superdry to expand further in India and neighboring regions.
Superdry’s unique blend of British heritage, American style, and Japanese graphics has resonated with fashionable young Indian consumers. The brand has rapidly expanded to 200 points of sale across 50 cities, with e-commerce playing a significant role in its growth, reaching over 2,300 Indian cities. As a result, RBL-run Superdry India operations have become the largest franchise network for the brand globally.
Superdry offers a wide range of products, including outerwear, T-shirts, shirts, shoes, and accessories for both men and women, catering to the evolving needs of Indian shoppers. In 2019, the brand ventured into sports and activewear with ‘Superdry Sport,’ further diversifying its product portfolio. Bollywood actor Kartik Aryan has been the brand ambassador since 2022, prominently featuring in brand campaigns and product launches.
Darshan Mehta, MD of Reliance Brands Limited, expressed excitement about the partnership, emphasizing Superdry’s influence on urban fashion in India over the past decade.
Superdry UK will maintain a stake in the Indian market and continue supporting brand development by sharing expertise in design, product development, and marketing.
Julian Dunkerton, Superdry’s CEO and Founder, expressed confidence in the brand’s potential in the Indian fashion market and the opportunities presented by this partnership with Reliance.
This collaboration marks a natural progression in Superdry’s successful journey in India, facilitating deeper collaboration between RBL and Superdry PLC, including new sourcing channels, India-centric product categories, cost optimization, and long-term brand development investments.