India: In 2023, Reliance Brands, a division of Reliance Industries, and UK-based clothing retailer Superdry PLC formed a joint venture to secure Superdry brand's intellectual property rights in Bangladesh, India, and Sri Lanka. Superdry PLC will receive gross cash proceeds of USD37.36 million as a result of the agreement, which values Superdry's licenses and brand assets at USD49.15 million. Reliance Brands Holding, UK, and Superdry will jointly own the venture, with Reliance Brands Holding having a 76% stake and Superdry holding a 24% stake.

In order to introduce the brand in India, Reliance Brands first secured a franchise arrangement with Superdry PLC in 2012. With the help of this new cooperation, the two businesses will be able to work together even more closely on new sourcing channels, product categories tailored specifically for India, cost-cutting initiatives, and long-term brand development expenditures. Following the agreement, RBL will keep in charge of managing brand operations in the regions, while Superdry UK will continue to own an interest in the brand in India and promote brand growth by contributing its knowledge of design, product development, and marketing.

Superdry is currently offered at 200 places of sale, in 50 Indian cities. In addition to shoes and accessories, Superdry sells t-shirts and shirts for men and women. It is believed that the brand has significant potential in the country, given India's expanding economy, burgeoning middle class, and rising rates of garment purchase. The South Asian IP generated about 1.8% of the overall Superdry group sales for the fiscal year that ended on April 30, 2023, contributing to revenue of USD13.52 million and profit before tax of about USD3.19 million.

According to Superdry, Reliance Brands is best positioned to take advantage of the opportunity due to its majority IP ownership holding. Superdry will invest USD10.8 million in the new JV organization and transfer its intellectual property holdings in the territories to it. According to the statement, Superdry will continue to provide finished goods to Reliance at standardized commercial conditions.