SuperGroup, owner of trendy fashion retailer Superdry, is to step up its German expansion with a raft of store openings next year.
Supergroup chief executive Julian Dunkerton said: “We’re doing particularly well in Germany where we are trading above expectations. We only have seven franchises and one company-owned store there, but from our large wholesale business and online you can tell were going to be huge there.”
The retailer is to hit the expansion trail this year after what Dunkerton called a “year of consolidation”. It has built its IT and logistic capabilities to prevent glitches which hit profits in it last financial year.
SuperGroup opened 66,000sq ft over the last year but is to accelerate this to between 80,000sq ft to 100,000 sq ft in the year ahead.
Retail sales jumped 10.9% and like-for-likes advanced 5% in SuperGroup’s fourth quarter to April 28.
However, the rate of sales growth was slower than previous quarters, which Dunkerton put down to the cold weather. He said its “balanced range” and transitional season product had helped it alleviate the impact of poor weather conditions.
Dunkerton confirmed that Superdry will be targeting a more premium wholesale customer for some of its new product range, as revealed by Retail Week last month.
The retailer is taking an additional space at trade show Bread and Butter in July specifically to promote its premium collection, which will include its collaboration with tailor Timothy Everest, to upmarket chains.