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Supergroup set for float

Supergroup, the owner of young fashion brand Superdry and retail chain Cult, has announced its intention to raise £125m by floating on the London Stock Exchange.

Supergroup is hoping its growth story, both in the UK and internationally, will lure investors. It also plans to extend its product ranges particularly across womenswear and footwear.

The company has 40 UK stores, three outlets and 54 concessions in House of Fraser.

Supergroup chief executive Julian Dunkerton said: “We are delighted to announce our plans for a listing on the London Stock Exchange.  Supergroup is a highly profitable, fast growing business with significant potential for expansion in the UK and internationally. Our brands, particularly Superdry, have established a loyal customer following across the world founded on a reputation for providing innovative, premium quality clothing at affordable prices.”

Supergroup has brought in former Arsenal football club chief executive Keith Edelman as a senior independent non-executive director. Former ecommerce director of electricals retailer DSGi, Indira Thambiah and former Mothercare finance director Steven Glew have been appointed as non-executive directors while former WH Smith director Peter Bamford will be non-executive chairman.

The business will be hoping that there is appetite to invest in its growth story despite the failed sale of Matalan and shelved IPO for New Look last week.

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