Recently, Reliance Brands Limited (RBL), through its wholly owned subsidiary in the UK, RBUK, signed a definitive agreement to enter a joint venture with UK-based Superdry PLC. This marks a significant new chapter in its partnership with Superdry PLC. The joint venture entity will acquire Superdry's intellectual property assets for the India, Sri Lanka, and Bangladesh territories. RBUK and Superdry will own 76 per cent and 24 per cent of the joint venture entity, respectively. The consideration for the IP is £40.0 million, which is estimated to result in Superdry PLC receiving gross cash proceeds of £30.4 million (approx. £28.3 million net of fees and taxes) from RBUK.
“We are pleased to be announcing this IP agreement with our long-term partners, Reliance," says Julian Dunkerton, CEO, Superdry. "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,” he adds.
Superdry UK will maintain a stake in the brand for the Indian Territory and will continue to support brand development through sharing expertise in design, product development, and marketing. According to RBL, this announcement represents a natural progression in the brand's ongoing success and popularity in India. The new partnership will enable a deeper collaboration between RBL and Superdry PLC, facilitating new sourcing channels, as well as introduction of India-centric product categories, cost optimization, and long-term investments in brand development.
In 2012, RBL had signed a long-term franchise agreement with Superdry PLC and introduced the brand in India. This strategic evolution of brand ownership aims to capitalise on the increasing affluence and evolving consumption patterns of Indian shoppers. This deal paves the way for Superdry’s future expansion in the country and neighbouring territories.
Superdry's unique fusion of British heritage, American styling, and Japanese graphics has carved a niche for itself among fashionable young Indian consumers. Today, the brand has expanded to 200 points of sale across 50 cities. With the brand reaching over 2,300 Indian cities with its online presence, it makes RBL-run Superdry India operations as the largest franchisee network of the brand globally.
Superdry’s product range includes outerwear, T-shirts, and shirts for men and women, as well as categories like shoes and accessories. In 2019, Superdry expanded into sports and active wear adding performance-driven products to its portfolio under ‘Superdry Sport’. Earlier this year, the company further expanded its product range to include swimwear, fragrances, as well as an exclusive Denim & Shirt range. Bollywood actor Kartik Aryan has been the brand ambassador since 2022.
According to Darshan Mehta, Superdry has come to define urban cool in India for more than a decade. “The journey has been rewarding and fun in equal parts due to working with the hugely talented Superdry team and the sense of camaraderie led by Julian. I look forward with excitement to this new era of our partnership,” says Mehta, MD of Reliance Brands Ltd.