SUPERGROUP, the company behind the Superdry fashion label, is to make its first foray into Turkey after signing a deal with a local franchise partner to open stores in the country.
The popular clothing brand, whose celebrity fans include Real Madrid goalkeeper Iker Casillas and singer Ed Sheeran, announced yesterday that it has signed a five-year agreement with Demsa Group that will see it open its first store in Istanbul in October.
Two more stores will follow in early 2014, with a second opening in Istanbul and another in Ankara, the country’s capital and second largest city. A minimum of eight stores are expected to open throughout the agreement.
Demsa will also carry Superdry products within their Harvey Nichols department stores and their Brand Room stores.
Superdry operates over 400 owned, franchised and licensed stores in 60 countries and also delivers to over 100 countries via its websites.
The group plans to open around 50 franchises this financial year and last month struck a 10 year distribution agreement with FJ Benjamin to grow the brand in Malaysia and Singapore.
“Turkey is a territory that has held our interest for some time and our partnership with Demsa Group offers the perfect opportunity to enter this diverse and growing market,” Supergroup founder and chief executive Julian Dunkerton said
“Demsa Group has an excellent understanding of our brand ethos and we look forward to growing the partnership,” he added.
Supergroup is the latest retailer to make an entrance into the fast-growing Turkish market after Marks & Spencer launched in Istanbul earlier this year.
Shares in SuperGroup, which is due to update on first quarter trading next week, closed yesterday at 1,172p, valuing the business at £942m.