The company behind the Superdry preppy fashion label yesterday laid claim to being one of the fastest-growing clothing brands in the world as it reported a near 70% hike in quarterly sales. Cheltenham-based SuperGroup said sales increased 68%to £57.5m over the past three months as young shoppers around the world adopted its trademark hoodies, check shirts and jogging bottoms.
"These figures demonstrate the solid progress we are making as a brand and a retail company," said chief executive Julian Dunkerton. "The sophistication of the [Superdry] brand is increasing and the autumn range has been really well received."
The sales performance bettered the 60% increase seen in the first quarter and Dunkerton said its expansion plans were on track as it opened new stores in UK as well as franchise outlets as far afield as the US and Australia.
The shares, which closed down 11p at £12, have more than doubled since listing at 500p in March, making it one of the year's most successful flotations. The company is confident the breakneck growth will continue, despite pressures such as the VAT rise in January and the soaring price of cotton: "VAT's a pain... and the cotton thing's a pain... but as you're growing and getting stronger the macro story becomes less relevant," said Dunkerton.
Superdry was founded in 1985 and has since been developed to design and sell a wide range of premium men’s and women’s clothing under its flagship brand together with other own brands and a number of third-party products which are sold in Cult stores. Superdry clothing is inspired by Japanese design influences with vintage Americana style.
Source: Guardian ©