Superdry has its sights set on further developing sales in Asia having reached agreement with Cowell Fashion Company for the sale of its intellectual property insights in certain APAC countries for an advance fee of US $50m. The two businesses will work in a close partnership with Superdry charging a management fee of US $1m. This will ensure that Cowell’s use of the Superdry brand is consistent with Superdry’s standards and to the required quality. The sale has the approval of the Superdry board and is conditional on approval from its shareholders and lender.
Under the agreement, products will be developed specifically for each market going forward. Cowell will use the Superdry brand, initially in the South Korean market and then expand to others including China.
Superdry chief executive & founder Julian Dunkerton said: “This agreement offers the Superdry brand a fantastic opportunity to expand its global reach, whilst providing additional funding to help deliver our turnaround programme in the face of a challenging consumer landscape. I’m absolutely thrilled to work together with Cowell to create inspiting products consistent with our brand heritage and build out across the APAC market.”