SuperGroup is to push the button on a global ecommerce offer a week ahead of its scheduled IPO.
The retailer behind the Cult Clothing chain and Superdry brand is to launch a nine-country European ecommerce assault this week and US, Australia and Korea-specific transactional sites will go live later this month.
The push is part of SuperGroup’s plans to expand its international presence and boost potential shareholder value as its gears up to float on March 24, valued at £395m.
At present, SuperGroup only operates a UK website. The new sites will sell the same product but pricing will be adjusted by territory. All the websites will transact in local currencies and fulfilment will be from the UK.
Sites poised to go live this week are Spain, Greece, Germany, Switzerland, Norway, Denmark, Belgium, Finland and Sweden.
SuperGroup head of creative media and marketing James Meigh said: “I see very, very large growth in sales coming from this. It will work and it’s a no brainer. It is also about consistency and controlling how we appear in each territory.”
SuperGroup is also thought to be in advanced negotiations to develop a Superdry fragrance as part of plans to extend the brand into new areas.
The group last week said its shares would be priced at 500p each. The IPO, which was oversubscribed, will raise £120m after costs. Of that, £105m will enable the management team and stakeholders to realise their investment and the balance of £15m will be used to accelerate growth.
The float will be the first in the retail sector since Sports Direct’s listing in 2007.