Reliance Brands to Take Over Superdry in India

Newzdaddy Business Updates

Mumbai, October 4, 2023: Reliance Brands Limited (RBL), a company in India, is teaming up with a UK-based company called Superdry PLC to make their partnership even stronger. They’re joining forces to buy the rights to Superdry’s brand in India, Sri Lanka, and Bangladesh. Reliance Brands will own most of it, 76%, and Superdry will own the rest, 24%. They’re paying £40.0 million for this deal, which means Superdry will get about £30.4 million in cash after fees and taxes.

This partnership started back in 2012 when Reliance Brands brought Superdry to India. Now, they want to make the brand even bigger in India because more and more people are shopping for nice things. Superdry is known for its mix of British, American, and Japanese styles, and young people in India really like it. Right now, you can find Superdry in 200 stores in 50 cities, and they also sell their stuff online to over 2,300 cities in India.

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Superdry doesn’t just sell clothes. They have all kinds of things like jackets, T-shirts, and shoes for men and women. They even have swimwear, perfumes, and a special denim and shirt collection. In 2019, they started making sports and workout clothes too. Plus, a famous Bollywood actor, Kartik Aryan, has been helping Superdry since 2022 by being in their ads and new product launches.

The head of Reliance Brands, Darshan Mehta, said, “Superdry has been cool in India for a long time, and I’m excited about this new chapter in our partnership.” Superdry in the UK will still be part of the brand in India and will help make new designs and products.

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Julian Dunkerton, the CEO and founder of Superdry, said, “We’re happy to be working with Reliance again. India is a great place for Superdry, and with our partnership, we can grow even more. I’m sure the brand will keep getting better and become a big name in Indian fashion.”

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This news is a step forward in Superdry’s success in India. The partnership will make it easier for Reliance Brands and Superdry to work together, find new things to sell, and make the brand even better in India.