A wholly-owned subsidiary of Reliance Brands Ltd (RBL) in the UK has inked a joint venture (JV) agreement with UK-based global clothing retailer Superdry PLC to acquire Superdry’s intellectual property (IP) assets for the markets of India, Sri Lanka, and Bangladesh. 

The IP is valued at nearly £40 million, resulting in an estimated gross cash proceeds of £30.4 million to Superdry, or approximately £28.3 million, net of fees and taxes. Reliance Brands Holding UK (RBUK) will own 76%, while Superdry will hold the remaining 24% of the JV. 

RBL and Superdry signed a long-term franchise agreement in 2012 to launch the casual wear brand in India. The new strategic evolution of partnership will enable deeper collaboration between the two, facilitating new sourcing channels, introducing India-centric product categories, optimizing costs, and capitalizing on the increasing affluence and evolving consumption patterns of Indian shoppers. 

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