SuperGroup in £500k payout for online plans

SuperGroup, owner of the Superdry brand, has paid the man who sold its seconds on the web £500,000 and taken the operation in-house.

Chris Griffin, the top-rated UK seller of designer clothing on eBay, will be given the payment in shares.

Meanwhile, Griffin will become the company’s e-commerce chief and be put on the SuperGroup payroll.

He received the payment because of the short notice given to him on the termination of his contract to sell Superdry on the web through his own company 888 Clothing.

SuperGroup said it had decided to bring online sales in-house because they are growing so rapidly, already making up four per cent of its total revenues.

SuperGroup floated on the stock market in March at 500p a share and the price has since risen to 681p.

Chief executive Julian Dunkerton said: “Chris Griffin’s appointment represents a huge step for us as we move towards creating a dynamic, fully integrated e-commerce capability.”

Earlier this month the brand signed a franchise agreement with Al Khayyat Investments to open 13 Superdry stores across the United Arab Emirates. A number of celebrities have sported the firm’s clothes including David Beckham.