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Superdry set to smash its way into FTSE 250

Supergroup, the fashion retailer behind the Superdry brand best known for its urban style and for gracing David Beckham&rsquo;s body, is set to strut its way into the FTSE 250 next year with a stock market listing valuing the business at &pound;400m.<br /><br />The retailer has hired City broker Seymour Pierce to advise on the float, which is expected in the first or second quarter of next year.<br /><br />The listing is said to be an opportunity for founding partner and chief executive Julian Dunkerton, 44, to &ldquo;take some money&rdquo; out, after spending the last 25 years developing the business, according to sources.<br /><br />Dunkerton controls 52 per cent of the business. Theo Karpathios and James Holder, who founded the Bench skatewear brand, each own 19 per cent of the company.<br /><br />Superdry&rsquo;s stock market floatation is expected to raise at least &pound;100m in fresh capital, but it is so far unclear how much of Dunkerton&rsquo;s stake will be sold or how much of a windfall the board will pocket.<br /><br />The new cash will be used to propel Supergroup&rsquo;s international growth. It is planning a minimum 20 new store openings in 2010 and has its sights on China, India and SouthAmerica.<br /><br />Supergroup is forecast to report its profits have doubled to &pound;25m for the year ending April 2010.