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Superdry 'headed in wrong direction', says co-founder

Superdry co-founder Julian Dunkerton has warned the retailer is “on the wrong path” after a difficult start to the year.

Dunkerton, who launched Superdry in 2003 and left the board in March this year, told the Sunday Times he wanted to return to the business after it suffered “probably the most disastrous eight months you can imagine”.

He told the newspaper: “I’ve been in this industry for 30 years, and I left a brilliant business and a brilliant brand, and it’s just taken a wrong direction.”

Superdry issued a profit warning earlier this month. It said warm weather would reduce profits by £10m hit for the full financial year. Historic currency hedging mechanisms were also noted to have failed to provide the anticipated level of protection, leading to an additional foreign exchange cost of £8m across the year.

Peter Bamford, chairman of Superdry said: “The board of Superdry has huge respect for Julian Dunkerton as an entrepreneur and the founder of the business. Superdry is an ambitious, global, multi-channel brand and the board believes that Julian’s view of strategy has not evolved with the needs of our business.”

 

Readers' comments (3)

  • Some further quotes from The Times interview with Julian around what he means by "taking a wrong direction", would have made this article more valuable/interesting

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  • Dunkerton got out at the right time and knowing when that time is, is an art form in itself.

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  • Quit whilst ahead, awesome timing, head winds are strong, wants back in to bring back the hoodie to save the day, yawwwwwwwwwwwwwwwn, noooooooooooo, this type of mass retailing is dying, how many times can you re hash a SUPERDRY print, too much exposure, the day Duffer printed it on a hoodie was the day they ran out of idea's and killed the Brand. Gone from a cool 80's young fashion Brand to a Summer essential for Mum /Dad's Devon/Cornwall staycation. Julian sell your shares now and use the money to guide invest in new young up and coming talent, look forward not back, innovate don;t replicate, find the new Bode.

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