MUMBAI/LONDON — India’s Reliance Industries is in talks to license British fashion brand Superdry for the Indian market, The Economic Times reported on Friday, citing three people familiar with the matter..
Reliance, which has been expanding its retail business in recent years, is looking to add more international brands to its portfolio, the newspaper said..
A deal with Superdry would give Reliance access to the British brand’s youthful and trendy clothing, which is popular with shoppers in India..
Superdry has been struggling in recent years, and a deal with Reliance would help the company expand its reach and boost its sales..
The talks between Reliance and Superdry are at an early stage, and there is no guarantee that a deal will be reached, the newspaper said..
Superdry, which was founded in 1985, has over 500 stores in 60 countries..
The company’s sales have been declining in recent years, and it has been hit by the COVID-19 pandemic..
In 2021, Superdry reported a loss of 85.7 million pounds ($110 million)..
A deal with Reliance would be a major boost for Superdry, which is looking to turn around its fortunes..
Reliance, which is India’s largest private sector company, has been expanding its retail business in recent years..
The company has acquired several Indian fashion brands, including Amante, Hamleys, and Netmeds..
Reliance also has a joint venture with British luxury brand Burberry..
A deal with Superdry would further strengthen Reliance’s position in the Indian fashion market..
The Indian fashion market is expected to grow to $115 billion by 2025, from $85 billion in 2020, according to Euromonitor International..
The growth is being driven by factors such as rising disposable incomes, increasing urbanization, and the growing popularity of e-commerce..
