In a bid to revitalize its growth within the expansive Indian market, struggling fashion retailer Superdry is reportedly on the verge of announcing a pivotal joint venture with India’s retail leader, Reliance Brands.

As per reports from Sky News, this significant collaboration could be unveiled within days, potentially injecting substantial funds into Superdry’s fragile balance sheet, estimated to reach tens of millions of pounds.

Reliance Brands, headquartered in Mumbai, holds the distinction of being India’s largest retailer. The speculated deal is valued at approximately £25 million for Superdry, reflecting a strategic move akin to the brand’s earlier partnership in the Asia-Pacific region with South Korea’s Cowell Fashion Company, which was valued at around £34 million.

Superdry has been grappling with financial challenges, prompting Founder and CEO Julian Dunkerton to actively seek funding, especially in light of the ongoing cost-of-living crisis impacting the company’s performance.

Notable among its recent agreements is a £25 million secondary lending facility secured with Hilco Capital in August, in addition to an existing financial arrangement of up to £80 million with Bantry Bay Capital.

During the spring, Superdry successfully raised £12 million through a share sale. However, shareholders who acquired shares at over 76p each may be facing paper losses, with share prices falling to less than 42p each on Tuesday.

As of now, Superdry has refrained from offering official comments on this reported development.

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