Superdry owner SuperGroup revealed on July 9 that it has signed a joint venture deal with Hong Kong-based casualwear retailer Trendy International Group to take the young fashion brand to China.
SuperGroup and LVMH-backed Trendy International will invest a combined £18m in the move in over the next 10 years. Trendy International will manage the day-to-day operations of stores in China, while SuperGroup focuses on brands and marketing.
Who is Trendy International Group?
- SuperGroup’s new partner was established as a casualwear retailer by chief executive Jacky Xu and his wife Shanhu Li in 1999, selling its own womenswear brands Ochirly and Five Plus, kidswear label Love Ysabel by Ochirly and menswear brand Trendiano.
- Today the business operates around 3,000 stores in most major shopping centres across the country.
- In 2011, it attracted $200m (£129m) worth of investment from L Capital Asia, the investment arm of luxury group LVMH, for a 10% stake.
- The following year it acquired the Asia-Pacific arm of Italian company Sixty Group, taking over the operations of young fashion brands Miss Sixty and Energie in the region.
- In 2013, Trendy International announced a partnership with 10 Corso Como to open the Italian retailer’s first store in Shanghai.