Reliance Brands to acquire 76% Superdry IP in Indian territories

The consideration for the IP costs around $48.7m.

Reliance Brands’ UK subsidiary and UK-based clothing brands Superdry PLC formed a joint venture to own Superdry’s intellectual property assets in India, Sri Lanka, and Bangladesh.

In a statement, Reliance Brands said it will own 76% of the joint venture whilst Superdry will hold the remaining 24%.

The consideration for the intellectual property is around $48.7m (£40m), wearing in Superdry will receive gross cash proceeds of $37m (£30.4m).

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Reliance said Superdry UK will still keep a stake in the brand in the Indian territory and will support brand development in the areas of design, product development, and marketing.

RBL and Superdry signed a long-term franchise agreement in 2012 to launch the brand in India.

$1 = £0.82