Shares in stock market debutant SuperGroup began trading on Wednesday, and as the markets were closing at the end of the first day, the price was up 8% to 540p.

The business, owner of the Superdry brand, is the first store group to float since Sports Direct in 2007. The IPO was oversubscribed and capitalised the retailer at £395m.

SuperGroup founder and chief executive Julian Dunkerton said appetite for the shares showed “confidence in the strategy and growth potential for SuperGroup”.

Oriel analyst Jonathan Pritchard believed SuperGroup should do well as a public company. He said: “IPOs in the retail sector do not have a good name given the problems that have occurred at Sports Direct and Debenhams. “However, we think that this is an uncomplicated situation, sharing more of the characteristics of Dunelm.”

Investec analyst Katharine Wynne said SuperGroup’s reception showed an appetite for growth stories.