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SuperGroup unveils updated strategy

SuperGroup, the owner of Superdry, has unveiled an updated strategy that includes paying its first dividend and embarking on a collaboration with actor Idris Elba.

GENERAL MERCHANDISE

SuperGroup unveils updated strategy

The company said the new strategy is designed to deliver “sustainable, long-term” growth for the business.

Euan Sutherland, SuperGroup chief executive, said: "Today we are setting out our strategy to deliver sustainable growth at SuperGroup, as we continue progressing towards our goal of creating a global lifestyle brand.

“Superdry represents British innovation, quality premium products at affordable prices sold to customers around the world.

“Superdry is an iconic brand with a strong heritage and we will continue to broaden and strengthen its appeal to customers across countries and age groups."

The company said the payment of dividends will commence with an interim dividend payment in the 2016 financial year.

SuperGroup has also acquired the exclusive rights to distribute Superdry products in North America by terminating the 30 year licence granted to SDUSA LLC, SuperGroup’s US licence partner, in 2008. This follows the acquisitions of its Scandinavian, Spanish and German partners over the last 18 months.

The collaboration with Idris Elba will see the star work with the brand on the design and production of a premium line of clothing which will be sold globally in stores and online, as well as through wholesale partnerships from Autumn/Winter 2015. Idris, who will be designing the range with James Holder, will also be the face of the line. 

The strategy also includes the strengthening of the SuperGroup board with the appointment of Penny Hughes as an independent non-executive director. Hughes is currently a non-executive director of Morrisons and The Royal Bank of Scotland.

SuperGroup said it expects its profit for the current financial year to be in the range of £60 million to £65 million, in line with previous guidance.

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