Superdry in licensing talks with Indian giant Reliance – report
Struggling fashion retailer SuperdryReliance Brands
Sky News reported that a deal could be unveiled within days and that it would “release tens of millions of pounds to bolster its fragile balance sheet”.
Mumbai-based Reliance is India’s largest retailer and the deal is said to be worth £25 million to the UK firm. It would be similar to the Asia-Pacific deal it struck in March with South Korea’s Cowell Fashion Company. That was worth around £34 million.
Superdry has faced funding challenges of late and founder/CEO Julian Dunkerton
Other deals it has stuck include one in August for a £25 million secondary lending facility with Hilco Capital. That came in addition to its existing up to £80 million deal with Bantry Bay Capital.
Superdry raised £12 million from a share sales this spring too, but those who bought in at over 76p a share will be nursing paper losses because the shares were worth less than 42p each on Tuesday.
Superdry hasn’t commented on the story.
