Superdry has posted a weak half year (26 weeks to October 27, 2018) in which profits fell by 49 per cent despite global brand revenues having increased by 6.4 per cent to £831.8 million from £781.6 million for the same period in 2017. The management of the business has come in for criticism from its founder Julian Dunkerton and has responded to press coverage of Dunkerton’s comments by saying that much of the product slated by him was actually signed off during his tenure as product & brand director. It is understood that Dunkerton, who has other business interests including hotels, is seeking to make a return to the Superdry business.
Meanwhile, there will be the launch of a new Superdry Kids kidswear range for AW19. Plus a licensing programme which is expected to deliver an additional £10m annual royalty margin by FY22. It will also roll out its first 100 per cent organic cotton products and is aiming to be fully organic in cotton by 2040. These moves will, the business says, bring it new customers as well as additional compelling reasons for current customers to remain loyal to the Superdry brand.
Superdry is also investing further in its own direct to consumer, B2B and partner eCommerce sites in order to reach new markets and customer-centric mobile platforms.
Euan Sutherland, Superdry CEO said: “Superdry had a difficult first half, impacted by unseasonably warm weather across our major markets, a consumer economy that is increasingly discount driven, and the issues we are addressing in product mix and range.
“In the Spring of this year, we started an 18 month product innovation and diversification programme. This will increase choice for consumers around the world and address the current over-reliance on jackets and sweats.”
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