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Gloucestershire Business News

Superdry ends Chinese partnership to stand alone

Superdry has ended its joint venture in China with Trendy International as it looks to take control of its brand.

Julian Dunkerton

The Cheltenham fashion retailer said ending the four-year joint venture would "leave Superdry free to determine how it will trade in China".

Franchise partnerships will cease by the end of the year with 25 owned and 41 franchise outlets closing by September.

Chief executive Julian Dunkerton said: "I believe that China represents a huge opportunity for Superdry in the longer term.

"As the way people are shopping there changes, it makes sense for us to shift our focus to the growth channels of online and wholesale.

"Combined with the improvements we are making to our product ranges, I am confident that this is the right time for us to take back full control of our brand in China and to reposition our operations in the region to deliver profitable future growth for Superdry."

A company statement said it will assess the right operating model for China to maintain a presence in what remains a large and attractive market.

The decision, which the company says has been accelerated by the impact of COVID-19, is part of Superdry's transformation plan for each of its core markets.

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