Superdry news and archive

Superdry to accelerate growth in India with Reliance Brands

British retailer Superdry has signed an IP joint venture agreement with India’s Reliance Brands Holding UK (RBUK) for the sale of its South Asia intellectual property assets, including the Superdry brand and related trademarks in India, Sri Lanka, and Bangladesh. In a statement, struggling Superdry said that RBUK, which is held by Reliance...

ManagementFeatured

Superdry swings to full-year loss as wholesale struggles persist

Superdry swung to a loss in its most recent full-year report despite reporting a small increase in sales, as a strong retail performance was offset by weaker wholesale trading. The British fashion retailer swung to a loss of 148.1 million pounds in the 12 months to July 29, compared to a profit of 22.4 million pounds the prior year, amid its...

Report

Superdry delays FY results, suspends trading of shares

Superdry announced Wednesday it has temporarily suspended the trading of its shares on the stock exchange after delaying its full-year results. The British fashion retailer said in a statement that it is working with its auditor, RSM UK Audit LLP, “to complete the final technical points of the audit of its FY23 results and expects to announce...

Fashion Featured

Labour rights group urges Next and Superdry to pay owed Cambodian Workers

The Labour Behind the Label (LBL) initiative is leading efforts to ensure fashion companies Next and Superdry fulfill their obligation of 500,000 dollars owed to Cambodian garment workers affected by the Wai Full Textiles factory closure during Covid-19. According to LBL, Next, Superdry, and Asos received supplies from Wai Full Textiles. The...

ManagementFeatured

Superdry secures 25 million pounds from Hilco

Fashion retailer Superdry has secured a secondary lending facility of 25 million pounds from retail financing specialists Hilco Capital to help accelerate the implementation of its turnaround plan and cost reduction programme. The facility with Hilco, which has provided loan facilities to large retailers, over the past 24 months, including...

Retail

Superdry to close eight UK stores

Superdry is to close eight of its 104 stores in the UK this year. “We can confirm that eight stores operated by our franchisee under licence from Superdry, are in the process of closing,” a spokesperson for the brand said in a statement seen by LBC. “The majority of Superdry’s stores in the UK are operated directly by Superdry and there are no...

Fashion

Item of the week: the white shirt

What it is: If there was one item that stood above the rest for the AW23 season, it was the white shirt, spotted in abundance for both menswear and womenswear collections, alike. It was also not subject to one form, and instead could be spotted in a multitude of silhouettes, ranging from exaggerated oversized shapes to fitted deconstructions....

Business

Report: Superdry in talks to outsource e-commerce operations to Shopify

UK fashion retailer Superdry is reportedly in talks to outsource its online operations to Canadian e-commerce giant Shopify amid an ongoing cost cutting drive. Superdry, which has been working to streamline its operations recently in an effort to return to profitability, has been holding talks with third-party providers over its e-commerce...

ReportFeatured

Superdry raises 12 million pounds in fresh funding amid turnaround

Superdry has concluded its equity raise and secured 12 million pounds in fresh funding. The bulk of the funding came from the 14.5 million shares placed by Peel Hunt and Liberum with certain institutional and other investors at an issue price of 76.3 pence per share, raising gross proceeds of approximately 11.1 million pounds. Additionally,...

ManagementFeatured

Superdry COO Silvana Bonello exits

Superdry’s chief operating officer (COO) Silvana Bonello has stepped down from the business as the retailer seeks fresh funding. First reported by Drapers, the exit was confirmed to FashionUnited via email. “We can confirm Silvana is leaving the business. We thank her for her contribution to Superdry and wish her all the best for the future,”...

Business

Superdry confirms discussions with investors regarding equity raise

Superdry has confirmed media speculation regarding discussions it has had with investors over a potential fundraising by the company. In a statement, the brand said that it was “in positive discussions with certain institutional and other investors with regards to a proposed equity fundraising of up to 20 percent of the company’s issued share...

Business

Superdry reportedly close to securing 10 million pound share sale

Superdry is believed to be close to announcing plans regarding a 10 million pound share sale as part of its efforts to strengthen its balance sheet. Founder of the UK brand, Julian Dunkerton, is reportedly looking to unveil the potential raise sometime this week following discussions with City investors. The move was reported by Sky News, which...