Superdry co-founder Julian Dunkerton has bagged an £18m windfall after offloading one million shares in the fashion business.

Dunkerton has offloaded the shares, which equate to a 1.23% shareholding in the company, at £17.80 apiece, according to stock exchange filings published yesterday.

It marks Dunkerton’s first major share sell-off since 2016, when he cashed in four million shares worth around £50m.

Despite the latest sale, Dunkerton remains Superdry’s largest shareholder, with a 25.4% stake.

He started the business in 2003 alongside James Holder, the entrepreneur behind rival clothing brand Bench.

Dunkerton made £80m by selling shares when Superdry listed in 2010, but retained a 30% stake in the business.

He stepped back from the chief executive position in 2014 and was replaced by former Co-op boss Euan Sutherland.

Superdry now trades from 863 stores and concessions globally.

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