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Britain’s Superdry sells Asia Pacific IP for $50 million
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LONDON (Reuters) – Struggling British fashion brand Superdry has sold its intellectual property assets in much of the Asia Pacific region to South Korea’s Cowell Fashion Company for $50 million, giving it a much-needed cash boost.
LONDON (Reuters) – Struggling British fashion brand Superdry has sold its intellectual property assets in much of the Asia Pacific region to South Korea’s Cowell Fashion Company for $50 million, giving it a much-needed cash boost.
The deal means Cowell will own and use the Superdry brand in its home market before extending to other APAC countries including China.
“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 the challenging consumer landscape,” founder and CEO Julian Dunkerton said on Wednesday.
Superdry warned on profit in January and earlier this month hired Interpath Advisory to help cut costs.
Shares in Superdry were up 6% in early trading, paring losses over the last year to 33%.
(Reporting by James Davey, Editing by Paul Sandle)
Intellectual property refers to creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. It is legally protected to ensure creators can control and benefit from their innovations.
A cash boost refers to an increase in available cash, often received through sales, investments, or financing. It provides a company with the liquidity needed to fund operations, pay debts, or invest in growth.
Intellectual property assets are legal rights that protect creations of the mind. These can include patents, trademarks, copyrights, and trade secrets, which can be monetized or sold.
Market capitalisation is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the share price by the total number of shares, reflecting the company's size and investment potential.
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