Superdry will reach “the tipping point” for women shoppers within the next year, as word spreads of the retailer’s new focus on more feminine product, boss Julian Dunkerton has said.
The business this morning published results showing like for like retail growth of 6.9% in the year to April 28, with the fourth quarter also up 5%.
Dunkerton said this reflected the beginnings of change within the womenswear department of the group, adding he was confident it would snowball as awareness spreads of the “proper womens line” available.
“Historically we have been very good at hoodies and T-shirts, but what you’re seeing now is us moving into a proper womens line with dresses and so on. That progress you will see continue over the next 12 months.
“Our autumn range has already been massively well received and next spring there is more in development. .. I feel sure the tipping point will come in the next year.”
Dunkerton added: “As your product develops, your future develops”.
The group – whose annual results were also boosted by store expansion that saw it grow by 66,000 sq ft – is planning to expand by 80,000-100,000 in the current financial year, with SuperGroup targeting “gaps left by certain bankruptcies”.
Internationally, the business plans to expand particularly in Europe, with an emphasis on Germany, where it has traded well initially. Dunkerton also noted plans to launch in new territories including China and Russia, but said there was “no time frame on it” until he found the right local partners.
“We will continue to expand across the globe,” he said. “Everywhere we go people understand our product: we are going to become a very strong international brand.”
SuperGroup is poised to announce who its new head of womenswear will be shortly, and an international director will be named slightly further down the line.
The retailer also plans “massive improvements online”, enhancing customer experience and creating a more omnichannel approach over the next year, Dunkerton said