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Superdry buys out wholesale agent

Superdry is to buy out the operations of its wholesale agent in the Netherlands, Portare, in January 2018 for an estimated £2m.

The agent will continue to be the preferred franchise partner in the territory.

The brand said in a statement that the transaction is anticipated to pay back within two years – including the additional cost of the necessary wholesale infrastructure – as a result of reduced commission payments.

As part of a wider strategy update, Superdry also announced that Superdry Sport is to become the official clothing supplier to the UK delegation to the 2018 Invictus Games – the event for injured servicemen and women organised by Prince Harry.

Superdry Sport will create technical training and competition clothing for the UK competitors, as well as training and leisure clothing.

The Invictus Games will take place in Sydney on 20-27 October 2018.

Euan Sutherland, CEO of Superdry, said: “The buyout of our Netherlands agent is consistent with the development strategy we have applied to other markets and demonstrates our confidence in the future growth of the Dutch market.

“It is a further example of our flexible, disciplined approach to building both the Superdry brand and shareholder value in each market in which the brand is present.”

He added: ”The Invictus Games has shown how the power of sport can help injured servicemen and women and their families, and inspire us all. We are very proud to have been chosen to provide the performance clothing for the UK delegation.

“This collaboration provides further endorsement to the growing credibility of the Superdry Sport brand in terms of its design, technical expertise and attention to detail.”

Superdry announced a 25.2% increase in global brand revenues to £756.3m in its pre-close statement for the half year to 28 October 2017.

 

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