Reliance Brands buys majority ownership of Superdry IP for Indian territory

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Reliance Brands, through its UK-based wholly-owned subsidiary RBUK, has entered a joint venture with UK’s Superdry PLC. As part of this deal, RBUK will acquire the intellectual property rights for Superdry in India, Sri Lanka, and Bangladesh. The intellectual property for the Indian market is priced at £40.0 million, equating to approximately Rs 404.14 crore.


In the joint venture, RBUK will hold a 76 per cent stake, while Superdry PLC will retain 24 per cent. From the £40.0 million consideration for the IP, Superdry PLC is set to receive gross cash proceeds of about £30.4 million (approximately Rs 307.14 crore), which is approximately £28.3 million net of fees and taxes.


The Mukesh Ambani-led retail firm, in its release, mentioned that the move aims to leverage the rising affluence and changing consumption patterns of Indian consumers. With Reliance Brands’ readiness to amplify the Indian consumption story, this partnership lays the groundwork for Superdry’s expansion in the region.


Currently, Superdry boasts 200 sales points across 50 Indian cities. Its e-commerce platform has expanded the brand’s reach to over 2,300 cities, making Superdry’s Indian operations the brand’s largest global franchisee network.


Darshan Mehta, MD of Reliance Brands, expressed his optimism about the enhanced partnership, appreciating the synergy and team spirit shared with Superdry.


Superdry will retain a stake in its brand for the Indian market and promises to continue aiding brand development with expertise in areas like design, product development, and marketing.


The revamped partnership is set to foster deeper collaboration between Reliance Brands and Superdry PLC, paving the way for introducing products tailored to the Indian market, sourcing new channels, optimising costs, and making long-term investments in brand enhancement. Superdry first ventured into the Indian market in 2012.


Julian Dunkerton, CEO and founder of Superdry, voiced his confidence in the partnership’s potential to further establish the brand as a formidable player in the Indian fashion scene, leveraging their long-standing relationship with Reliance.