Superdry owner SuperGroup has purchased its long-term Scandinavian distributor SMAC Group, returning to it the rights to trade the brand in Denmark, Norway and Finland.
The SMAC Group – which consists of SMAC A/S, SMAC Retail A/S and SMAC Norge A/S – was purchased for an undisclosed sum and paid for in cash from internal SuperGroup resources.
Led by chief executive Stine Elmkvist, it is based in Aarhus, Denmark and has four retail stores, eight franchise stores and a “thriving” wholesale business, according to SuperGroup.
SuperGroup added in a statement this morning [June 27] it has “ambitious plans for the region”. It will invest capital in store roll-out, boost margins on the wholesale operation and, through retaining SMAC Group, keep local operational and management knowledge.
SuperGroup chief executive Julian Dunkerton said: “The acquisition of our Scandinavian partner follows the purchase of our Spanish and German distributors last year. Our strategy is progressing well and we will provide an update on developments on July 10. We remain fully focused on maximising the global opportunity for the Superdry brand.”