Superdry to join the stock market

Fashion label Superdry is set to join the stock market later this month. The label which is currently only six years old has seen its sales soar, last year reaching £119m which mean that floating the company will mean more money to expand the brand.

Superdry specialises in street-style clothing and is aimed at 18-23 year olds and was started by Julian Dunkerton, who started out in the fashion business with a market stall in Cheltenham, the brands Supergroup parent company said today its offer of shares to institutional shareholders had been “heavily oversubscribed”. Considering other companies attempts to float show the strength and determination of the brand and also the fact that Supergroup has no debt which looks better for investors.

The Supergroup float will value the business at £395m and raise £125m, of which more than £100m will go to the group’s owners. Only £15m will be used to fund expansion, with 20 new outlets, including a flagship London store, planned. The company which employs 1,000 staff they opened 17 new stores last year, taking its total to 40 and also has 54 concessions in House of Fraser, where it is one of the department store group’s fastest-selling labels. The popularity is down to the diversity in designer menswear and women swear as well as being favoured by celebrities such as David Beckham and the actor Leonardo DiCaprio.