As Superdry-owner SuperGroup posts a 22% surge in full year underlying pre-tax profit to £52.2m, chief executive Julian Dunkerton tells Retail Week he has silenced the retailer’s critics.
Retail Week: Do you think you’ve silenced the critics with these results?
Julian Dunkerton: What a difference a year makes. I would like to think we’ve silenced the critics. My belief in the future has always been there. Building the team has been the key focus for the year. We now have a very strong team to build and deliver growth.
You have China in your sights. When will you enter the country?
We’ll launch this year in terms of etail. It will give us some good learnings on product and sizing. We already have a wholesale business in Hong Kong and Taiwan but this will be the first time we’ve offered our entire SKU count for the brand.
And when will stores come?
It’s a very important territory. It’s like the flagship store, when we do it, we want to do it properly. We’ve got to get the right formula and the right product as the prize is so huge.
Why is the opportunity so huge for SuperGroup in China?
In terms of branded fashion there’s not a huge amount of competition which is why we’re so excited about China, as we are all the BRIC countries.
You have stores in India, what about the other BRIC countries?
Brazil has very strict import laws so it’s a complicated issue. Russia is also on our radar.
You’re looking at buying out SuperGroup franchise agreements across Western Europe. Why?
It’s about us having complete control across Europe. That will allow us to expand much faster and capture the margin that it brings. We’re completely focused on own stores and concessions across Europe.
What’s the biggest opportunity for SuperGroup?
Put simply, the internet and international. We aim to be the best in class in branded websites and in consumer service. In international we’re doing deals in Singapore, Malaysia and have a big European push.