Isha Ambani led Reliance Retail outfit to buy popular English based fashion brand
Isha Ambani headed Reliance Retail, she is expanding the business further by buying many foreign brands. Father Mukesh Ambani is also supporting his daughter in this work.
After Isha Ambani headed Reliance Retail, she is expanding the business further by buying many foreign brands. Father Mukesh Ambani is also supporting his daughter in this work. Currently, Isha Ambani has partnered with England’s popular fashion brand Superdry to bring this brand to India.
Presently Superdry Company is in financial trouble. Thus, to reduce its losses and secure its presence in India, this company has entered into an agreement with Reliance Retail. As per this agreement, Reliance Retail has proposed to buy Superdry IP assets. Preparations are also underway in this regard.
According to a Reuters news agency report, Super Dry plans to sell its intellectual property (IP) to Mukesh Ambani’s company for US$ 48.27 million (Rs 401 crore). According to the new agreement, Reliance Retail and Super Dry will have 76% and 24% respectively in the IP assets. According to the Reuters report, Reliance Retail has also continued its operations of buying brands in India, Sri Lanka and Bangladesh.
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Superdry is currently facing serious financial difficulties. This organization is getting less demand from wholesale partners. Thus the market has fallen. On the other hand, the organization is facing financial constraints for global operations. Based in England, Superdry has more than a dozen stores across India. Also, this company has online sales too. Competing with Japan-based casual and loungewear company Uniqlo.
Mukesh Ambani named Isha Ambani as the new leader of Reliance Retail in August 2022. At that time, the firm had a turnover of Rs 2 lakh crore transaction was possible. Mukesh Ambani and Isha brought global brands like Jimmy Choo, Giorgio Armani, Hugo Boss, Versace, Michael Kors, Brooks Brothers, Armani Exchange, Adidas Burberry and many others to India.
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Even after Isha took over the helm of Reliance Retail, the organization has recorded significant growth. Reliance Retail is said to be more valuable than other companies of the Reliance Group. Recently Reliance Retail Company has acquired the company owned by Bollywood famous actress Alia Bhatt. Acquired 51% stake in Alia Bhatt-owned Ed-A-Mamma. After Isha took the helm of Reliance Retail, the firm invested heavily in offline stores, Jiomart and new commerce platforms.
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