Supergroup, the owner of the Superdry label that has seen its

shares treble since last spring, has bought its franchise partner in Benelux and France for €40m (£34m).

The move will see a multi-million pound windfall for Luc Clément, the founder of CNC Collections. Mr Clément, who will join the UK fashion retailer as head of European franchising, owns half of CNC.

Supergroup said that the move will allow it to speed up its European expansion.

CNC currently operates 29 Superdry stores in the region, including 12 owned and 17 sub-franchised shops.
 

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