SuperGroup – the British company behind the Superdry fashion brand – yesterday reported soaring sales after a highly successful flotation.
Total sales leapt 59.8 per cent to £32.8m in the three months to 1 August as its trademark hoodies and checked shirts continued to fly off the shelves.
The company’s shares closed 3.7 per cent lower at 1,107p after the figures were announced but analysts put that down to some investors selling shares to pocket profit. The share price has doubled since the IPO in March.
SuperGroup’s wholesale business generated revenues of £10.5m from operations in the UK and 33 countries overseas.
Founder and chief executive Julian Dunkerton said: “I see no reason to believe that we will not continue growing in the nature that we have been growing. Young people have to look good.”
He claimed that SuperGroup, unlike fashion brands such as French Connection, would sustain its growth because it was hitting a gap in the market for quality, value for money, branded clothing that is not reliant on one product or one logo.
SuperGroup opened five shops in the period, including one at Lakeside Thurrock, which Dunkerton said was the company’s most successful opening this year.
The firm said it was eyeing more international openings to keep its expansion plans on track. Its first franchise store in the Middle East will be in Dubai.