Superdry launches in China
SuperGroup has officially launched the Superdry brand in China following the announcement of a joint venture agreement with Trendy International Group in July.
The launch event, which included a catwalk fashion show with local models, was held at the British Embassy Residence in Beijing and was attended by Sajid Javid, Secretary of State for Business, Innovation and Skills, as well as a number of current and former Chinese government officials.
The partnership to take Superdry into China will include an investment of up to £18 million on a 50:50 basis across a minimum period of 10 years. The joint venture was evolved from an initial introduction from the UKTI.
SuperGroup said the Chinese apparel market presented an “immense” opportunity for the Superdry brand.
Trendy, which operates 3000 stores across China, will use its expertise and knowledge of the Chinese market and consumer to manage the joint venture, with a focus on operations and logistics in China. Meanwhile, SuperGroup will provide support from the UK, concentrating on brand guidance and merchandising.
Euan Sutherland, SuperGroup chief executive, said: “Today marks a significant milestone in our joint venture with Trendy. We are excited at the prospect of entering this market with such an established and experienced partner. We look forward to gaining a deep understanding of the Chinese market and customer, and this launch marks another significant step in Superdry becoming a global lifestyle brand.”
