Reliance to buy Superdry’s South Asia IP assets

New Delhi, October 4

UK fashion retailer Superdry on Wednesday said it will sell its intellectual property (IP) assets in South Asia to Reliance Retail for Rs 402 crore through a joint venture.

Superdry will own 24% of the joint venture while Reliance Retail will have the remaining 76%.

In a filing to the London Stock Exchange, Superdry plc said it has signed an IP joint venture agreement with Reliance Brands Holding UK Ltd for “the sale of its intellectual property assets, including the Superdry brand and related trademarks in India, Sri Lanka, and Bangladesh to the joint venture vehicle”. — PTI

To have 76% in JV

Superdry will own 24% of the joint venture while Reliance Retail, India’s largest retailer, will have the remaining 76%