Mothercare plc and Reliance Brands Holding UK Limited announce strategic Joint Venture for South Asia

Mumbai / London, 17th October 2024: Mothercare plc (“Mothercare” or the “Company”), a
global specialist in products for parents and young children, and Reliance Brands Holding UK
Limited (“RBL UK”), a wholly-owned subsidiary of Reliance Brands Limited, today announced the
formation of a new joint venture that will own the Mothercare brand and its intellectual property
assets related to the regions of India, Nepal, Sri Lanka, Bhutan, and Bangladesh.
Under the agreement, RBL UK will hold a 51% stake in the joint venture, while Mothercare Global
Brand Limited will retain the residual 49% interest. RBLUK will acquire the stake for a cash
consideration of £16 million. This joint venture will act as the franchisor of the Mothercare brand
in the specified South Asian regions, unlocking new growth opportunities while leveraging the
strengths of both organizations.
“Mothercare has been a trusted name for parents in India for years, and this joint venture marks
an exciting new chapter in our partnership. It’s been incredibly rewarding to work alongside the
talented Mothercare team, and this deeper collaboration reflects the strong relationship we’ve
built over time. I’m excited about the opportunities this new era brings as we continue to expand
the brand’s presence across South Asia,” said Darshan Mehta, Managing Director, Reliance
Brands Limited.
Reliance Brands first acquired the rights to the UK-based Mothercare brand for the Indian market
in 2018 and currently operates 87 stores across 25 cities, in addition to a strong presence on e-
commerce platforms.
Clive Whiley, Chairman of Mothercare, commented, “Today’s agreement strengthens our
operations in South Asia through an even closer working relationship with Reliance, our existing
valued franchise partner, and underlines the intrinsic value of the Mothercare brand strength. We
have renewed confidence in the opportunity that this reinvigorated joint-venture now
presents. We look forward to working even more closely with Reliance Brands as our joint venture
partner and not just as a franchisee in the region, moving forward together.”
Key Highlights of the Joint Venture:
• Ownership and Management of Mothercare’s Intellectual Property: The new entity, JVCO
2024 Ltd, will own the Mothercare brand and related IP assets for India, Nepal, Sri Lanka,
Bhutan, and Bangladesh.
• Franchise Operations in South Asia: The joint venture will be responsible for managing and
franchising the Mothercare brand in these regions, ensuring brand consistency and customer
engagement.
• Strategic Investment: RBL UK will acquire a 51% stake in the joint venture, highlighting the
strength of the partnership and Reliance’s commitment to growing the Mothercare brand