New Delhi, India – Reliance Brands Ltd. (RBL), a subsidiary of the formidable Reliance Industries Ltd., helmed by Mukesh Ambani, has made a significant move in the world of fashion. In a groundbreaking joint venture deal, RBL has teamed up with the UK-based clothing retail giant, Superdry PLC. This strategic partnership grants Reliance Brands Ltd. exclusive rights to Superdry’s intellectual property in India, Sri Lanka, and Bangladesh, paving the way for substantial growth in these promising markets.
The agreement, inked by Reliance Brands Holding, UK, has assigned a valuation of £40 million to Superdry’s licenses and brand assets. As part of this transaction, Superdry PLC will receive gross cash proceeds totaling £30.4 million (approximately £28.3 million, net of fees and taxes) from Reliance Brands Holding, UK.
Under this partnership, Reliance Brands Holding, UK, will retain a majority ownership stake of 76%, while Superdry will possess the remaining 24% in the joint venture entity.
This collaboration is not entirely new, as RBL initially entered into a long-term franchise agreement with Superdry PLC in 2012 to introduce the brand’s casual wear offerings in India. However, this latest move signifies a deeper and more comprehensive partnership. It will facilitate enhanced cooperation between RBL and Superdry PLC, including the exploration of new sourcing avenues, the introduction of India-centric product categories, cost optimization measures, and long-term investments in brand development, according to RBL.
In a statement, RBL expressed its enthusiasm about the deal, saying, “Coupled with Reliance Brand’s appetite to invest in accelerating the Indian consumption narrative, the deal paves the way for Superdry’s future expansion in the country and neighboring territories.”
As part of their continued association, Superdry UK will maintain a stake in the brand for the Indian market. They will continue to provide invaluable support in design, product development, and marketing to bolster brand growth.
Julian Dunkerton, CEO and founder of Superdry, expressed his optimism about the partnership, stating, “We are pleased to be announcing this IP agreement with our long-term partners, Reliance. India represents an incredible opportunity for Superdry, and our excellent existing relationship with Reliance means we will be able to hit the ground running. Under our new partnership, I am confident that the brand will continue to accelerate and build on our success to date to become a major force in the Indian fashion market.”
Currently, Superdry boasts a presence across 200 points of sale in 50 cities across India, offering a range of products including t-shirts, shirts, footwear, and accessories. Notably, in 2019, Superdry expanded into the sports and activewear segment with ‘Superdry Sport,’ diversifying its product portfolio to include performance-driven items.
Reliance Brands Ltd., with a rich history dating back to its establishment in 2007, is a subsidiary of Reliance Retail Ventures Ltd. The company has forged partnerships with an impressive array of brands, including Armani Exchange, Bally, Coach, Diesel, Giorgio Armani, Hamleys, Hugo Boss, Hunkemoller, Iconix, Jimmy Choo, Kate Spade, La Martina, Pottery Barn, Pret A Manger, Salvatore Ferragamo, Satya Paul, Steve Madden, Superdry, and many others.
Today, RBL operates through 2,169 outlets, comprising 905 standalone stores and 1,264 shop-in-shops, solidifying its footprint in the Indian retail landscape.
About Reliance Brands:
Reliance Brands Limited (RBL) emerged as a subsidiary of Reliance Retail Ventures Limited in 2007, tasked with the mission of introducing and cultivating global brands in the realms of luxury and premium fashion and lifestyle.
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