Superdry expands in Asia
SuperGroup, the owner of the Superdry fashion brand, has signed a deal to expand its presence in South East Asia.
The group has agreed a 10 year distribution agreement with F J Benjamin, the retailer of luxury and lifestyle fashion brands in the region, to grow the Superdry brand in Malaysia and Singapore.
F J Benjamin will open three stores in Kuala Lumpur in Malaysia by early 2014 with the first store opening at Pavilion Kuala Lumpur in November this year. The group is also looking for a suitable location for a store in Singapore.
Julian Dunkerton, SuperGroup chief executive, said: “We have a clear strategy to partner, outside Europe, with leading distributors in territories around the world to further internationalise and globalise the Superdry brand. This follows new partnerships with Demsa in Turkey and Reliance Brands in India. We are excited to expand further in the Southeast Asian markets with F J Benjamin, a company with an impeccable track record in building brands in Asia.”
Never Miss a Retail Update!Mr Benjamin of F J Benjami, added: “Superdry is one of the most popular young fashion chains to appear in the UK in recent years and we believe it will take Southeast Asia by storm. We like their fashion edginess and their constant drive to stay relevant to the market. We look forward to partnering SuperGroup.”
Earlier this month, SuperGroup hailed its full-year results as a return to form as it reported a 5.7% increase in retail like-for-like sales.
In the 52 weeks to 28 April 2013, group revenue climbed 14.9% to £360.4 million while pre-tax profit rose 0.8% to £51.8 million. On an underlying basis, pre-tax profit rose 22% to £52.2 million.
