UK-based global fashion brand Superdry has “solidified its commitment to Australia” by extending its licensing partnership with retail giant Brand Collective.

The two companies have signed a 12-year strategic extension, “with a multi-million-dollar royalty value” granting Brand Collective exclusive rights to the Superdry brand in Australia.

With the new agreement comes “an exciting era of growth with both companies aiming to double revenues in the next five years, targeting A$100 million [£50 million]”.

That’s not a fanciful target given Brand Collective operates over 300 stores across the country involving 16 retail partners. And they noted that “Superdry continues to be the cornerstone of Brand Collective’s diverse portfolio”, which also includes other major brands such as Reebok, Review, Shoes & Sox, Clarks, and Hush Puppies.

Brand Collective CEO Dave Thomas said: “It’s great to see that Australians have embraced Superdry — we’re thrilled to continue this partnership, creating a positive future for the brand in our market.”

Superdry’s CEO Julian Dunkerton added: “We have been working with Brand Collective for many years, and this extension illustrates the value we place on the trust, longevity and continuity of our relationship. Our ongoing partnership will continue to grow and strengthen the brand across Australia.”

In November, Superdry filed its annual accounts for the period to the end of April with the company saying group revenue fell 22% to £488.6 million, “reflecting the continued underperformance of its Wholesale division but also impacted by softer conditions in its Retail segment”.