UK fashion retailer Superdry on Wednesday said it will sell its intellectual property assets in South Asia to Reliance Retail for 40 million pounds (Rs 402 crore) through a joint venture. Superdry, whose fashion line mostly includes sweatshirts, hoodies and jackets, will own 24 per cent of the joint venture while Reliance Retail, India's largest retailer, will have the remaining 76 per cent. Under the agreement, Superdry's brand IP assets in South Asia will be permanently transferred to the new JV entity.
The MP claimed that Siddiqui's radio station was funded by US-based Pakistanis and the Pakistan government.
The premium mall, Jio World Drive (JWD), is spread across an area of 17.5 acre and it will be Mumbai's first rooftop Jio drive-in Theatre which will be operated by PVR. JWD will house only premium international and Indian brands.
Acceleration in demand, together with marginal price hikes of about 2-3 per cent by cement companies in the October-December quarter (third quarter, or Q3) of 2022-23, may not be enough to cushion the impact of high input costs on the bottom line, reveal Bloomberg consensus estimates for the quarter. Year-on-year (YoY) net sales growth in Q3 will come in at nearly 7 per cent, shows Bloomberg data, while bottom-line growth will show a sharp decline of 25 per cent from a year ago. The earnings before interest, tax, depreciation, and amortisation (Ebitda) will likely decline by nearly 5 per cent versus a year ago, shows data.
Reliance Brands has been announcing a new JV every month to break into both high streets and smaller towns.
The world-wide acquisition of the iconic Hamleys brand and business places Reliance into the front-line of global retail.
Reliance Brands, a group company of Reliance Industries, began operations two years earlier to launch premium-to-luxury domestic and international brands and also set up retail stores for them.
Reliance Brands, a subsidiary of Reliance Retail, will focus on brand partnerships and creating brand portfolios to make its presence felt in the Indian branded apparel sector.
From auto to watches, the mood is sombre due to the alarming state of the Indian economy and value erosion in stock market capitalisation.
Because of high rents in Mumbai and the response from Delhi, most luxury retail players want to expand in the capital.
HUL has achieved few milestones in the fiscal gone by and hence is performing good on revenues front.
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