Superdry founder banks nearly £18 million in share sale

Superdry’s largest shareholder has banked nearly £18 million after selling a chunk of his holding in the strong performing British fashion label.

The retailer’s co-founder Julian Dunkerton, who now acts as the firm’s product and brand director, took home £17.8 million when he sold one million shares at £17.80 each, or 1.23 per cent of the group. 

His decision follows 12 months of share price gains for Superdry, which were up 0.2 per cent on Monday at 1,801p.  

Superdry, previously known as SuperGroup before being renamed earlier this year, has seen its shares rise 20 per cent over the past 12 months to 1,818p. 

Sales jumped 25.2 per cent to £756.3million in the half year to October 28 – with retail sales up 12.8 per cent and wholesale revenues up 43.1 per cent. 

It only recently slowed down after the company revealed that half-year profits had declined earlier this month.

During the festive period, however, the fashion firm, which specialises in vintage style clothing with Japanese style graphics, booked a 13 per cent rise in group revenue to £215.6 million.

Superdry shares rose 20 per cent over the past 12 months to 1,818p

A successful advertising push and a heavy focus on online sales helped the retailer bring its ecommerce revenue up 30.5 per cent compared with the same period last year, according to Insider.

In January’s update the retailer unveiled a 28 per cent fall in half-year pre-tax profits to £9.1 million, which sent shares down 9 per cent lower on the second tier of the London market.

Mr Dunkerton, who founded the business in 1985 from a market stall in Cheltenham, still holds 25.36 per cent of the company and remains Superdry’s largest shareholder.

In 2016, he sold just under £50 million of shares – about five per cent of the company for £12 each – to fund a divorce settlement with Charlotte Abbot with who he has two children with. 

The clothing retailer floated on the London Stock Exchange in 2010.