Superdry

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Superdry
Superdry
Public
Traded asLSESDRY
IndustryRetail
Founded1985; 34 years ago (1985)
HeadquartersCheltenham,
Gloucestershire, England
ProductsClothing
Revenue£872.0 million (2018)[1]
£100.3 million (2018)[1]
£50.7 million (2018)[1]
Websitewww.superdry.com

Superdry plc is a UK branded clothing company, and owner of the Superdry label. Superdry products combine vintage Americana styling with Japanese inspired graphics. It is listed on the London Stock Exchange.

History[edit]

Flag over the Regent Street Superdry Store in London

Cult Clothing Co was established by Ian Hibbs and Julian Dunkerton in Cheltenham in 1985, at which time it was trading as "Cult Clothing".[2][3]

During this period, Dunkerton met James Holder who at the time was running skatewear brand Bench.[4] In 2003, they joined forces to found Superdry, opening its first store in Covent Garden in London in 2004.[5][4]

Under Theo Karpathios, a nationwide then global expansion of Superdry took place.[6] The business floated on the London Stock Exchange in March 2010.[7] Dunkerton appeared in the Sunday Times Rich List 2010, and was estimated to be worth £180m.[8] The company issued a profits warning and placed its store opening plans under review in February 2012; the share price quickly dropped by 18%.[9]

On 22 October 2014, it was announced that Dunkerton stepped down as CEO of Superdry and was replaced by Euan Sutherland, the ex-CEO of The Co-operative Group.[10] In February 2016 Dunkerton sold four million shares at £12 per share (for a total of £48 Million), but remained the largest shareholder with a 27% stake in the group.[11]

On 8 January 2018 SuperGroup plc changed its name to Superdry plc.[12]

On 2 April 2019, after founder Dunkerton won his bid to be reinstated to the board of the company, the company's chairman Peter Bamford, chief executive Euan Sutherland, chief financial officer Ed Barker, and remuneration committee chair Penny Hughes, resigned from the board "and will stand down with immediate effect". Further directors Dennis Millard, Minnow Powell, Sarah Wood and John Smith have given three-months notice and will stand down as directors from 1 July. Only two board members remain: company secretary Simon Callander, and non-executive director John Smith.[13]

Image[edit]

Superdry does not overtly advertise and does not actively pursue celebrity endorsement except a 2015 collaboration with Idris Elba. The company's "Brad" leather jacket sold 70,000 units from 2007 to mid-2009, becoming one of the best-sellers for the company, after it was worn by football player David Beckham.[14]

The company's products include meaningless excerpts of Japanese text generated by machine translation.[15]

References[edit]

  1. ^ a b c "Annual Report 2018" (PDF). SuperGroup. Retrieved 16 March 2019.
  2. ^ "SuperGroup has super first quarter after implementation of new growth strategy". Retail Gazette. 5 September 2014. Retrieved 29 March 2015.
  3. ^ "Cheltenham staff to become millionaires overnight". 17 November 2009. Archived from the original on 1 October 2015.
  4. ^ a b Strachan, Ian (26 January 2017). "Rich List 2017: No.27 - James Holder". birminghampost. Retrieved 13 February 2019.
  5. ^ "Fashion retailer aims to build on the opening of its biggest UK store". Property Week. November 2009.(registration required)
  6. ^ "SuperGroup co-founder Theo Karpathios quits". The Independent. 14 August 2012. Retrieved 28 April 2017.
  7. ^ Investors Snap Up Superdry Owner's Shares Sky News, 23 March 2010
  8. ^ Sunday Times Rich List: Who's up? This is money, 26 April 2010
  9. ^ Simon Bowers. "SuperGroup issues profits warning after Superdry's tough January". The Guardian. Retrieved 3 April 2015.
  10. ^ "Superdry founder replaced as CEO role by ex-Co-op boss". BBC News. 22 October 2014.
  11. ^ BBC News Superdry founder sells shares to fund his divorce 12 February 2016
  12. ^ "Shareholder info - Change of Name". Superdry plc. 8 January 2018.
  13. ^ https://www.bbc.co.uk/news/business-47776372
  14. ^ Guardian (28 May 2009), "David Beckham jacket tussle ends with rap on the knuckles for Primark", The Guardian, London, retrieved 10 August 2009
  15. ^ "Superdry: Popular UK Fashion Brand Uses Gibberish Japanese". Japan Probe. Archived from the original on 6 October 2014. Retrieved 1 October 2014.

External links[edit]