Macfarlanes advises Superdry plc on Indian IP joint venture

06 October 2023

Macfarlanes has advised global fashion brand, Superdry Plc, on a transaction designed to accelerate growth in India. The transaction comprises an IP joint venture agreement with Reliance Brands Holding UK Ltd (RBUK), and agreements for the sale of Superdry’s intellectual property assets, including the SUPERDRY brand and related trademarks, in India, Sri Lanka, and Bangladesh to the joint venture vehicle. RBUK and Superdry will own 76% and 24% of the joint venture vehicle respectively.

The transaction, which is conditional upon shareholder approval, comprises a class 1 disposal for the purposes of the Listing Rules.

The deal was led by Corporate and M&A partner Harry Coghill, with assistance from senior counsel Mark Slade and associate Diogo Morgado Filipe. Commercial partner Will Hedges, senior associate Mark Cusack and associate Harrison Clark provided commercial and IP advice, and tax and reward partner Jeremy Moncrieff and senior associate Joe Robinson provided tax input.

Macfarlanes worked closely with Superdry general counsel Jennifer Richardson to help deliver the transaction.

Earlier in the year, Macfarlanes also acted on Superdry’s class 1 disposal of its intellectual property in the Asia Pacific region, as well as a placing underwritten by Superdry’s co-founder, Julian Dunkerton.

Commenting on these transactions, Harry Coghill said: “These transactions are a critical part of helping Superdry to deliver on its turnaround plan, as well as a new model for delivering growth. We are delighted to have supported Superdry on them.”