Superdry co-founder Julian Dunkerton has scrapped the brand’s previous strategy and cancelled plans for a footwear licensing deal and kidswear range.
Dunkerton won a shareholder vote to return to the board of the brand earlier this month, following an extended campaign. He was appointed interim chief executive following the departure of former CEO Euan Sutherland, who exited the business with immediate effect after Dunkerton’s reappointment.
Since his return at the start of this month, Dunkerton has already cancelled Superdry’s debut kidswear collection and has pulled out of a footwear licensing deal with Pentland brands.
Licensing had been the cornerstone of Sutherland’s plans to revive the ailing Superdry brand – it was hoped it could add £10m of extra profits each year. Dunkerton now believes that it can be grown more organically from within the company.
Several key figures exited the business following Dunkerton’s return. In addition to Sutherland, Superdry chairman Peter Bamford, chief financial officer Ed Barker, and chairman of the remuneration committee Penny Hughes all left the business with immediate effect.