Reliance Brands acquires majority shares of Superdry for Indian market

Reliance Brands, a subsidiary of Reliance Industries, has entered into a joint venture agreement with UK-based clothing retailer Superdry PLC to secure intellectual property rights for the Superdry brand in India, Sri Lanka, and Bangladesh. The deal values Superdry's licenses and brand assets at 40 million, resulting in Superdry PLC receiving gross cash proceeds of 30.4 million. Reliance Brands Holding, UK, and Superdry will jointly own the venture, with Reliance Brands Holding holding 76% and Superdry holding 24%.

Reliance Brands had previously signed a franchise agreement with Superdry PLC in 2012 to launch the brand in India. This new partnership will enable deeper collaboration between the two companies, including new sourcing channels, India-specific product categories, cost optimisation, and long-term brand development investments.

Superdry is currently available in 200 points of sale across 50 Indian cities. It offers a range of clothing, shoes, accessories, and sports and activewear. Superdry's CEO and founder, Julian Dunkerton, expressed confidence that the brand would continue to grow and become a major player in the Indian fashion market through this partnership.

Superdry UK will maintain a stake in the brand for the Indian market and continue to support brand development by sharing expertise in design, product development, and marketing.

Reliance Brands Holding's collaboration with Superdry aims to accelerate the brand's expansion in India and neighbouring regions, capitalising on the growing consumption narrative in the country.