Reliance Brands forges partnership with ‘urban cool’ fashion brand Superdry

• The JV will acquire Superdry's intellectual property assets for India, Sri Lanka, and Bangladesh.
• Superdry has 200 points of sale across 50 cities and e-commerce drives a majority of its sales.
• The brand roped in actor Kartik Aryan as its brand ambassador in 2022.
  

Reliance Brands’ UK subsidiary signed a definitive agreement to enter into a joint venture with UK-based fashion brand Superdry. Reliance Brands will own a majority stake of 74% in the JV, while Superdry will own 24%.

The JV will acquire Superdry's intellectual property assets for India, Sri Lanka, and Bangladesh. The consideration for the IP is £40 million, and Superdry will receive gross cash proceeds of £28.3 million net of fees and taxes from Reliance Brands UK.

India-centric product categories

Both the companies have been partners since 2012, when the Mukesh Ambani led company brought the fashion brand to India. The brand adapted to Indian shopping needs and introduced swimwear, fragrances and an exclusive denim and shirt range earlier this year.

The new partnership will facilitate new sourcing channels, and also introduce India-centric product categories. This is in addition to cost optimisation, and long-term investments in brand development, RBL said.

“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,” said Julian Dunkerton, CEO and founder of Superdry.

Superdry offers versatile outerwear, T-shirts, and shirts for men and women. They are also present in shoes and accessories. In 2019, it expanded into sports and activewear.

“Superdry has come to define urban cool in India for more than a decade. I look forward with excitement to this new era of our partnership,” said Darshan Mehta, MD of Reliance Brands.

It has 200 points of sale across 50 cities. “E-commerce continues to drive incremental growth for the brand, boosting its reach beyond 2,300 Indian cities, underlining RBL-run Superdry India operations as the largest franchisee network of the brand globally,” RBL said in its press release.

It roped in Bollywood actor Kartik Aryan as its brand ambassador in 2022. The fashion brand claims to have a unique fusion of British heritage, American styling, and Japanese graphics.