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Reliance Brands signs definitive agreement for joint venture with Superdry PLC
Oct-04-2023

Reliance Industries owned Reliance Brands (RBL), through its wholly owned subsidiary in UK (RBUK), has signed a definitive agreement to enter a joint venture with UK-based Superdry PLC, marking a significant new chapter in its partnership with Superdry PLC. 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% and 24% of the joint venture entity, respectively. The consideration for the IP is £40.0 million, which is estimated to result in Superdry PLC receiving gross cash proceeds of £30.4 million (approx. £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 way for Superdry’s future expansion in the country and neighbouring territories.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.


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