# Britain’s Superdry sells Asia Pacific IP for $50 million
Published: 2023-03-22
Category: News
Category URL: https://technologydispatch.com/category/news/
Meta Title: Superdry Sells Assets in Asia Pacific to Cowell Fashion for $50M
Meta Description: Superdry sells IP assets in Asia Pacific to Cowell Fashion for cash boost, CEO Julian Dunkerton optimistic on brand expansion and turnaround program.
URL: https://technologydispatch.com/britains-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.

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)


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