Cheltenham-based fashion clothing company SuperGroup is changing its name to Superdry.

The company founded by Julian Dunkerton on a Cheltenham market stall has long used the iconic brand name Superdry on its products with huge success around the world.

Now it is adopting Superdry as the group name in what many will see as a very smart move.

In a capital markets update the company's chief executive Euan Sutherland said: "Superdry is a global digital brand with huge opportunities ahead of it. Over the past three years our business has delivered a fundamental transformation becoming increasingly diversified not only internationally, but also by channel, product and in the customers we attract.

"Looking forward we believe we are better placed than ever before to deliver on our global digital brand aspirations.

"Our unique capability across Ecommerce, Wholesale and store channels provide significant opportunity for growth in the world's largest apparel markets with our focus on operational excellence enhancing returns from this growth.

"Changing the name of the group to Superdry is an important step reflecting our focus on developing the iconic Superdry brand globally and digitally.

"We are more excited today than we have ever been before about the future of Superdry and our ability to create long-term sustainable growth for our investors by delivering on our compelling strategy."

The Superdry store in Cardiff's St David's shopping centre has been revamped to make it the first company store with a dedicated Superdry Sports entrance.

It follows the company's decision to challenging some of the leading brands in the "athleisure" sector.