Superdry is set to open a large flagship store on Amsterdam’s busy shopping street Kalverstraat as it attempts to move away from franchising and towards standalone stores in Europe.
The young fashion brand and retailer has signed the lease on a 9,687 sq ft store, which was formerly operated by lifestyle retailer Mexx.
It is understood the store, which will open in mid-November, will resemble Superdry’s flagship on Regent Street, which opened in December 2011. Property agent Cushman & Wakefield advised Superdry on its latest transaction.
A source close to the situation said: “This is part of a push into Europe for them. They have lots of franchise partners across Europe but the plan is to open a couple of big flagships and teach the franchisees how to do it.”
Superdry, which has more than 255 stores including franchises and concessions outside the UK, has traditionally used franchisees across Europe. Earlier this year, however, chief executive Julian Dunkerton told Drapers that “everything in Europe is gently moving towards a standalone and department store concept”.
In July, parent company SuperGroup announced the acquisition of its Spanish partner, which Dunkerton confirmed was part of a larger European strategy to “buy out agencies” and “take back control”.
He added that in other international territories such as Turkey and Malaysia it would continue to use franchise partners.
In its latest results, sales at SuperGroup rose 25.7% to £75m for the 13 weeks to July 28. Retail sales were up 17.6% year on year to £53.2m, with own store and etail like-for-like sales increasing 8.5%