RBL, UK-based Superdry enter into IP agreement for India, Sri Lanka, Bangladesh markets

Julian Dunkerton (CEO & Founder, Superdry) with Darshan Mehta (MD, Reliance Brands Limited)

Reliance Brands Limited (RBL), through its wholly-owned subsidiary in the United Kingdom (RBUK), on October 4, signed a definitive agreement to enter into a joint venture with UK-based Superdry PLC, marking a significant new chapter in its partnership with the firm. 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 percent and 24 percent of the joint venture entity, respectively. The consideration for the IP is £40 million, which is estimated to result in Superdry PLC receiving gross cash proceeds worth £30.4 million (approximately £28.3 million net of fees and taxes) from RBUK.

RBL had inked a long-term franchise agreement with Superdry PLC in 2012 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. Coupled with Reliance Brand’s appetite to invest in accelerating Indian consumption narrative, the deal paves the way for Superdry’s future expansion in the country and neighbouring territories,” the company said in a release.

“This announcement represents a natural progression in the brand's ongoing success and popularity in India. The new partnership will enable deeper collaboration between RBL and Superdry PLC, facilitating new sourcing channels, as well as the introduction of India-centric product categories, cost optimization, and long-term investments in brand development,” it added.

Darshan Mehta, MD of Reliance Brands Limited, commented on the development and said, “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.”

Superdry, which has carved a niche among young Indian consumers, has expanded rapidly to 200 points of sale across 50 cities. E-commerce continues to drive incremental growth for the brand, boosting its reach beyond 2,300 cities in India, underlining RBL-run Superdry India operations as the largest franchisee network of the brand globally, the Reliance Brands release added.

Bollywood actor Kartik Aryan has also been associated with Superdry since 2022 in the capacity of a brand ambassador, featuring prominently in brand campaigns and new launches.

Notably, 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.

Julian Dunkerton, Superdry’s CEO and Founder, said: “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.”

(Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)