MUMBAI: Reliance Retail Ventures will purchase struggling UK-based Superdry’s model and associated logos in three Asian international locations for 40 million kilos, strengthening its affiliation with the overseas chain.
The Superdry model, its logos and different mental property property protecting India, Sri Lanka and Bangladesh will probably be transferred to a separate car wherein Reliance Retail’s oblique subsidiary, Reliance Brands Holding UK, will personal 76% and Superdry Plc will retain 24%.
Reliance Retail’s affiliation with Superdry dates again to 2012 when the previous gained the India franchise rights of the UK-based clothier. Superdry will make investments about 10 million kilos within the new car, which will probably be set off in opposition to the 40 million kilos consideration it receives from Reliance Retail, it mentioned in a submitting with the London Stock Exchange.
Superdry’s mental property property protecting the three South Asian territories generated about 1.8% of its complete gross sales within the monetary 12 months by April 30, contributing about 11 million kilos in income and a couple of.6 million kilos in working revenue, it mentioned.
The take care of Reliance Retail, mentioned Superdry, will embrace mental property rights relating to its new designs as nicely. It believes that the transaction will present the “best opportunities” for its model in South Asia, permitting it to “focus on growing its brand and increasing sales in its more established territories, where it has strongest expertise”.
Owned by billionaire Mukesh Ambani, Reliance Retail operates greater than 18,000 shops in India, promoting over 50 totally different vogue manufacturers. It additionally owns the mental property property of Gas and Iconix manufacturers in India. Iconix covers 23 labels equivalent to Ed Hardy, London Fog, Umbro and Hydraulic.
Superdry was launched by Julian Dunkerton and James Holder after a 2003 journey to Tokyo. The British firm additional mentioned that the take care of Reliance Retail will assist in boosting its liquidity, strengthening its stability sheet and funding its ongoing working capital necessities as a part of its turnaround plan.
The Superdry model, its logos and different mental property property protecting India, Sri Lanka and Bangladesh will probably be transferred to a separate car wherein Reliance Retail’s oblique subsidiary, Reliance Brands Holding UK, will personal 76% and Superdry Plc will retain 24%.
Reliance Retail’s affiliation with Superdry dates again to 2012 when the previous gained the India franchise rights of the UK-based clothier. Superdry will make investments about 10 million kilos within the new car, which will probably be set off in opposition to the 40 million kilos consideration it receives from Reliance Retail, it mentioned in a submitting with the London Stock Exchange.
Superdry’s mental property property protecting the three South Asian territories generated about 1.8% of its complete gross sales within the monetary 12 months by April 30, contributing about 11 million kilos in income and a couple of.6 million kilos in working revenue, it mentioned.
The take care of Reliance Retail, mentioned Superdry, will embrace mental property rights relating to its new designs as nicely. It believes that the transaction will present the “best opportunities” for its model in South Asia, permitting it to “focus on growing its brand and increasing sales in its more established territories, where it has strongest expertise”.
Owned by billionaire Mukesh Ambani, Reliance Retail operates greater than 18,000 shops in India, promoting over 50 totally different vogue manufacturers. It additionally owns the mental property property of Gas and Iconix manufacturers in India. Iconix covers 23 labels equivalent to Ed Hardy, London Fog, Umbro and Hydraulic.
Superdry was launched by Julian Dunkerton and James Holder after a 2003 journey to Tokyo. The British firm additional mentioned that the take care of Reliance Retail will assist in boosting its liquidity, strengthening its stability sheet and funding its ongoing working capital necessities as a part of its turnaround plan.
