SuperGroup co-founder James Holder to quit firm

SuperGroup, the British company behind the Superdry fashion brand, said on Thursday its co-founder, brand and design director James Holder, is to quit the retailer.


Superdry

The firm, whose trademark jackets, hooded tops and jogging bottoms are popular with teenagers and twentysomethings, said Holder would step down from the board on June 1.

Holder plans to lead a design consultancy called the SuperDesign Lab which will drive product innovation exclusively for SuperGroup. However, he will no longer be an employee of the firm.

Holder owns 11.6 percent of SuperGroup's equity.

SuperGroup, which has 662 stores and concessions across 51 countries as well as an ecommerce business, also said it expected to report a pretax profit of 72.5-74 million pounds ($105-$107 million) for the year to April 23, up from 63.2 million in the 2014-15 year, sending its shares up 13 percent.

Full-year revenue increased 21 percent to 589.5 million pounds, after fourth-quarter revenue jumped 30 percent to 98.7 million pounds. Fourth quarter sales at stores open over a year were up 15 percent, helped by a move into sportswear and premium product ranges.

SuperGroup shares were up 161 pence at 1,425 pence, valuing the firm at 1.15 billion pounds.

$1 = 0.6927 pounds

© Thomson Reuters 2019 All rights reserved.

Fashion - Ready-to-wearRetail
NEWSLETTER SUBSCRIPTION