SuperGroup, the young fashion business which owns brand Superdry and chain Cult, has brought its online outlet for Superdry seconds in-house as it looks to boost its online sales.
888 Clothing has been selling online Superdry products categorised by SuperGroup as seconds since September 2009. A company statement said sales of its seconds online had been delivering increasing revenues for SuperGroup.
As part of the agreement, Chris Griffin, trader and operator of 888 Clothing, has become head of ecommerce for Superdry. Both parties have agreed a settlement amount of £500,000 in lieu of the notice period to terminate the arrangements. SuperGroup will issue 74,536 ordinary shares of 5p each in the company to Griffin.
Julian Dunkerton, chief executive of SuperGroup, said: “Chris Griffin’s appointment represents a huge step for us as we move towards creating a dynamic, fully integrated e-commerce capability. This will ensure that we are better placed to maximise our internet sales and drive profitability. Chris’s undoubted track record and understanding of e-commerce are a great boost to SuperGroup, and we welcome him on board at such an exciting time of growth both in the UK and internationally.”