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Tag: Superdry

  • Superdry expect loss from prolonged summer

    Superdry expect loss from prolonged summer

    Superdry has issued a profit warning, saying an unseasonably warm European and US east coast summer together with foreign exchange costs will reduce income by about £10 million. “Superdry is a strong brand with significant growth opportunities, backed by robust operational capabilities, but we are not immune to the challenges presented by this extraordinary period of unseasonably hot weather,” said CEO Euan Sutherland in a statement.

    “We are well prepared for peak trading, but the second half of financial year 2019 presents both risks and opportunities.”

    The company’s share price fell a heavy 20 per cent in early trading after the announcement was made.

    Foreign exchange costs are expected to be about £8 million higher this year and the collapse of department store chain House of Fraser has left the fashion retailer an estimated £236,000 out of pocket.

    Sofie Willmott, senior retail analyst at GlobalData, said rival chains Quiz, Coast and Ted Baker have all been hit by the downfall of House of Fraser. “Superdry, the usually untouchable brand that consistently delivers double-digit sales growth, is the next to be affected.”

    Willmott said Superdry has had an unhealthy reliance on autumn/ winter stock and was unable to trade in season.

    “Given that the only certainty with weather is that it can be unpredictable, Superdry should have been better prepared to react to the prolonged warm summer, cutting back on volumes of jackets and coats to avoid overstocks and the need for markdowns.”

    Superdry knows this is an issue and is five months into an 18-month product-diversification program to broaden its range.

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  • Vincom Centre Landmark 81 launched

    Vincom Centre Landmark 81 launched

    Vingroup has opened its 55th shopping centre, The Vincom Center Landmark 81 mall, in Ho Chi Minh City’s Binh Thanh district.

    The 50,000sqm shopping centre occupies six of the skyscraper’s 81 storeys, housing 100 domestic and international brands in cosmetics, fashion, F&B, and entertainment.

    Fashion brands include Versace Jeans, Calvin Klein, Adidas, Tommy Hilfiger, Lacoste, French Connection, Kimmay, Superdry, H:Connect; Cole Haan, Ecco, Dune London, Parfois, Aldo, Pandora, Longines, OWL and Nike.

    The 7000sqm food and beverage area features 30 restaurants, including China’s Peach Garden, Japan’s Dozo Sushi, Vietnamese restaurants Delights, Di Mai, and coffee shops including Starbucks’ largest Vietnam outlet and Highlands Coffee.

    In the entertainment area, there is a 2000sqm Vincom Ice Rink, Vietnam’s largest, and a CGV cinema complex including an Imax screen, as well as a tiNiWorld entertainment complex and an indoor games centre.

    Vingroup’s food arm VinMart operates a supermarket there.

    Go to gallery below to view the launching event :
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  • Superdry Vietnam launching first Hanoi flagship store

    Superdry Vietnam launching first Hanoi flagship store

    Superdry Vietnam will open first flagship store on Saturday, at Hanoi’s Trang Tien Plaza.

    It will showcase the British fashion brand’s latest menswear, women’s and children’s casualwear, sportswear,  footwear, undergarments and accessories.

    For its Vietnam debut, Superdry will also introduce its latest perfume collection, Superdry SS18.

    On opening day, the first 100 customers will each be given a Superdry shirt.

    Superdry comes to Vietnam via Jaspal Group, which owns the Vietnam rights to such brands as CC Double, CPS Chaps, Lyn, Misty Mynx and Santas.

    Superdry has 515 locations in 46 countries.

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  • Dutch chain Topshelf to close down

    Dutch chain Topshelf to close down

    Dutch department store operator Topshelf appears to be closing down.

    The company has announced its last store in Alkmaar will close in mid-January, following the shuttering of stores in Arnhem, Nijmegen and Groningen.

    The company has not filed for bankruptcy and it says it will continue to employ existing staff as it quits remaining stock. Disappointing sales were cited as the reason for the closure.

    Topshelf – no relation to the UK-headquartered Topshop and Topman retail brands – was launched in 1995 as a megastore, focusing on sports and outdoors wear, called Sportsworld. At the end of 2015, it opened stores in premises occupied by collapsed department store chain V&D, expanding further in April last year into Arnhem and Nijmegen en Groningen.

    With sales remaining weak last December, the company decided to convert the city stores – Arnhem, Nijmegen, Groningen and Alkmaar – to Topshelf, continuing to operate other branches in Beuningen, Leerdam and Cruquius, outside the city, as Sportsworld.

    The Topshelf stores stocked luxury gifts, fashion and homewares and ranged products from brands including Versace, Guess, McGregor, Superdry, Lacoste, Tommy Hilfiger, Speedo, Calvin Klein, Ray Ban, O’Neill and Atomic.

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  • Jack Wills fails to maximise Christmas opportunity

    Jack Wills fails to maximise Christmas opportunity

    Jack Wills, well known for its preppy style and predominant pink and navy colour palette, has reported an unexciting 1 per cent increase in like-for-like sales in December.

    However, back under the control of co-founder Peter Williams after a difficult few years, the chain’s profit margin increased by 6 per cent year-on-year after discounting was reduced.

    While other lifestyle brands such as Joules and Superdry have flourished over Christmas, Jack Wills has struggled to defend its place in the ever competitive market, indicating its appeal at home may be on the wane.

    Despite difficult trading conditions in the UK, the retailer’s international online sales doubled year-on-year, highlighting the brand’s potential in foreign markets, particularly in Asia. Jack Wills also saw mobile sales rise 60 per cent year-on-year, in line with other retailers’ growth for mobile, ensuring further investment to improve the mobile experience is a must to reduce pain points and drive conversion.

    Jack Wills’ bath and beauty category proved bountiful for the retailer, growing 44 per cent versus last year, and women’s loungewear and underwear also grew 20 per cent and 10 per cent respectively. The growth in these categories shows how the brand is a destination for premium gifting over the Christmas period, particularly for women. Jack Wills must now focus on further developing its menswear and grooming ranges in order to better capture the male gifting market.

    While the brand has recently launched its first activewear collection, capitalising on the athleisure trend, it is late to the party and Jack Wills must encourage existing, loyal customers to buy into its activewear offer for the first time. Jack Wills’ founder, Peter Williams, and private equity firm, BlueGem, will need to focus on driving destination appeal, especially as 2017 can be expected to be challenging with muted volume growth.

    -Charlotte Pearce

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  • SuperGroup thrives after downsizing logos

    SuperGroup thrives after downsizing logos

    SuperGroup was a clear winner last Christmas as it benefitted from the weak pound and the opening of net nine new stores in the 10-week Christmas period helping to boost revenue to £162.1 million.

    SuperGroup’s conventional approach to discounting, with a series of online category specific promotions before Christmas and a clearance sale after, drove full price sales throughout most of the trading period.

    SuperGroup’s deliberate move away from the heavy logoed product of the past and investment in its womenswear ranges and premium menswear collection means Superdry has become a more fashion focused brand that has greater mass appeal – albeit its distinctive design flair still helps differentiate its offer from rivals.

    Communication of its updated ranges to new consumers is now imperative to its success. For females its investment in making stores more gender neutral will help shift views that it is a male brand, but with almost 50 per cent of women shopping menswear, it should consider assigning prime floorspace to womenswear to make it more appealing to browse collections when instore.

    In menswear it continues to outperform the sector boosted by its sportswear range and the prolonged athleisure trend. Despite its strong performance it still needs to shift perceptions that it is solely a casualwear retailer. The Idris Elba premium collection presents clothing that aligns it with new competitors such as Ted Baker, Whistles and Reiss; however winning the attention of these shoppers will remain difficult as merchandising, even in newer formats, still primarily focuses on casualwear.

    Dedicated window displays of the premium collection is one way Superdry can tempt new shoppers who have more tailored tastes in store and away from established smarter casualwear menswear retailers.

  • China is Ted Baker’s savior

    China is Ted Baker’s savior

    China has helped drive a solid half year for men’s fashion retailer Ted Baker.

    The UK-based chain has been rolling out concessions in the mainland with a local partner. That helped the company’s average retail square footage to rise by 8.5 per cent over the period to reach 386,252 sqft. Store openings in Indonesia – and its newest market, Bahrain – also helped.

    Additionally Ted Baker’s website now delivers to over 200 countries with the retailer rolling out language specific websites – helping to drive impressive online growth and broaden its global reach.

    Fiona Paton, an analyst with Verdict Retail, describes Ted Baker as a go-to destination for Christmas gifting and self-treating due to its stylish designs, distinctive collection of partywear and its range of high-quality accessories and leather goods which appeal to aspirational shoppers. “It is therefore no surprise that Ted Baker has reported another impressive performance this Christmas.”

    UK retail sales will benefit from Ted Baker’s increasing international brand awareness, as the retailer becomes front of mind among tourists wanting to take advantage of the weaker pound and buy into British brands and premium goods while visiting the UK, says Paton.

    “Over the next five years menswear is going to be the fastest-growing clothing sector in the UK. Ted Baker benefits from a unisex brand appeal so should capitalise on this and invest in its menswear proposition to increase its appeal among new 25-34 year old shoppers looking to graduate from Topman and River Island, and who are prepared to spend more on their clothing.”

    She says refreshing its designs and increasing the frequency of newness in collections will also help protect Ted Baker against emerging competitors, such as Superdry, which launched a premium menswear collection with Idris Elba in 2016, Whistles and Jigsaw.

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  • Superdry India to roll out more stores

    Superdry India to roll out more stores

    British fashion brand Superdry is set to expand its store network in India.

    Superdry India, a joint venture with Reliance Brands, currently operates 21 stores across the country.

    “We want to grow to 28 to 29 outlets by this fiscal year,” Manu Sharma, business head of Reliance Brands told the Economic Times. “We are expanding in India.”

    The new outlets are targeted for the nation’s east, where it recently opened its first store, at the Sohum Emporia in Guwahati. Stores are planned now for Ahmedabad and Kolkata.

    Currently, most Superdry India stores are located in New Delhi, Chennai and Pune.

    Meanwhile, Superdry is continuing its aggressive store roll-out in China and North America.

  • First Superdry China stores set to open

    First Superdry China stores set to open

    The first Superdry China stores are set to open in what a commentator describes as a core future market for parent SuperGroup.

    Nivindya Sharma, a senior analyst at Verdict Retail, says the brand’s international expansion strategy will now focus on “two key, but notoriously difficult, markets – the US and China” in the current financial year.

    “Superdry will open its first trial stores in China in 2016 and five in the US as it experiments with different store formats. Its relatively cautious approach to store rollout, and focus on eCommerce as a route to developing brand awareness and understanding local customer behaviour should serve it well,” said Sharma.

    News of its summer debut in China came amid an impressive full-year result: SuperGroup sales rose 21.3 per cent to £590.1 million, aided by its collaboration with British Hollywood star Idris Elba. Underlying pre-tax profit rose 16.3 per cent to £73.5 million.

    “Against a bleak background of stalling sales from major high street players such as Next and Primark, SuperGroup posted a stellar set of full-year results with strong growth across both its retail and wholesale divisions,” said Sharma.

    “No doubt, the net 24 stores the retailer opened during the year were major contributors to its FY results, but robust like-for-like growth indicates consumer demand remains strong for Superdry’s distinctive product.”

    Womenswear was the strongest growing category for the year, reflecting the push Superdry has made to broaden womenswear ranges and merchandise them more prominently in-store and online.

    “The brand is focused on developing its presence in womenswear, especially as it experiments with new concept stores in the UK that give more space to women’s ranges, and focus on enhancing the shopping experience using knowledge from its customer insight program,” said Sharma.

    “However, to truly make a mark in the UK’s highly competitive womenswear market, Superdry will have to consider how best it can soften and translate its male-centric brand image to appeal to female consumers.”

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  • SuperGroup’s stellar performance

    SuperGroup’s stellar performance

    Against a bleak background of stalling sales from major high street players such as Next and Primark, SuperGroup has posted a stellar set of full-year results.

    Strong growth was achieved across both its retail and wholesale divisions – 24.5 per cent and 13.7 per cent respectively – contributing to total group revenue of £589.5 million.

    There was no mention of poor weather affecting fourth quarter retail sales, which were up by 29.9 per cent on a top line basis and by 15.4 per cent on a like-for-like basis, highlighting how Superdry’s transeasonal ranges are more aligned with the manner in which consumers shop than many other retailers. Consumers’ shopping habits are changing, and seasonal product drops are increasingly irrelevant when shoppers prefer to buy across seasons – a lesson several clothing retailers would do well to learn.

    No doubt, the net 24 stores the retailer opened during the year were major contributors to its full-year results, but robust like-for-like growth indicates consumer demand remains strong for Superdry’s distinctive product. 2015 was a year of product development and range extensions for the retailer, with new sports and activewear ranges added, a highly-publicised collaboration with actor Idris Elba, and greater focus on womenswear – all initiatives which have driven spend from existing shoppers while recruiting new ones.

    On a slightly less upbeat note, founder James Holder has resigned as brand & design director of the business. However, he will be creating and working exclusively in SuperDesign Lab – a design consultancy where he intends to focus on innovation to support Superdry. It’s a well-thought out move especially as Verdict Retail data shows that consumers are increasingly demanding value for money.

    Incorporating fabric and technology innovation into key product ranges such as sports and activewear, will help Superdry provide more value to existing and prospective customers – thereby positioning it well for long-term growth.

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  • Superdry Retail Expansion comes to Queensland

    Superdry Retail Expansion comes to Queensland

    Superdry is excited to announce the opening of its first Queensland store at Pacific Fair Shopping Centre in May 2016.  

    Housed in the newly renovated Pacific Fair complex, Superdry will have an in-store fit out consistent with the brand’s theme of industrial, exposed brick and vintage oak wood finishes, including steel framework, polished concrete floors and glass jam jar light features.  

    As a major brand milestone, Queensland’s first Superdry store will be 230square metres stocking key fashion pieces and exclusive international collections including SuperdrySport and collaborations with renowned British actor Idris Elba. 

    Superdry is an innovative British premium lifestyle brand with plans for rapid retail expansion across Australia.  

    Euan Sutherland, Chief Executive Officer of SuperGroup, said: 

    “Our strategy is to deliver sustainable growth, as we continue progressing towards our goal of creating a global lifestyle brand. Superdry represents British innovation, quality premium products at affordable prices sold to customers around the world. Superdry is an iconic brand with a strong heritage and we will continue to broaden and strengthen its appeal to customers across countries and age groups. We see significant growth potential in Australia with plans to roll out several stores nationally in the next 12 months. ” 

    On a global scale Superdry is opening an average of six new stores every month. Superdry is sold in over 46 territories with 516 branded locations in major cities from London to Milan, Mumbai to Sydney and New York to Hong Kong just to name a few. In Australia Superdry has 11 existing retail stores, with Pacific Fair being the twelfth. Superdry is stocked in 37 David Jones stores and 40 Myer stores nationally, with category expansion plans to roll out across wholesale channels including womenswear, underwear, swimwear and sport.  

    Superdry fuses design influences from Japanese graphics and vintage Americana, with the values of British tailoring. The result; unique men’s and women’s urban clothing with incredible branding and an unrivalled level of detailing.  Such distinctiveness has gained the brand exclusive appeal worldwide with a cult following amongst celebrities.  

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  • Superdry delivers stunning turnaround

    Superdry delivers stunning turnaround

    SuperGroup, owner of the global lifestyle brand Superdry, has achieved an impressive 22.3 per cent increase in sales for the first half year, to £254.7 million.

    SuperGroup’s retail arm represented its strongest division, generating 30.8 per cent growth to £172.1 million, reflecting the continued expansion of wholly owned stores in the EU. Additionally, retail same store sales saw a major turnaround, increasing rapidly by 17.2 per cent compared to a decline of 4.1 per cent during the same period last year.

    This was driven particularly by a strong eCommerce performance. Online retail sales grew by 19.2 per cent as its digital channel continues to be its fastest growing route to market.

    “That noted, SuperGroup’s core focus remains on significant physical expansion within its key markets – Europe, North America and China,” observes  Anusha Couttigane, senior consultant with retail analyst Conlumino

    As part of its full year strategy, the group has set out to expand own store space by some 130,000 sqft  (12,000 sqm) within Europe. So far, nearly half this target has been achieved, the company having opened 14 net new stores comprising 63,000 sqft (5850 sqm) of new trading space during the first half year.

    Elsewhere, its wholesale arm saw 23 international franchise and licensed stores open during this period, contributing to a 7.8 per cent growth in wholesale revenue. However, the seasonality of its products has caused the group to announce an expected £3 million to £3.5 million operating loss in its North American operation for the full year as it realigns its product offer for its customer proposition on the continent.

    “With a successful first half completed, SuperGroup has positioned itself well for the all-important Christmas trading period,” comments Couttigane.

    “In the run-up, product innovation has been leveraged to encourage new customers, including Superdry’s premium collaboration with Idris Elba and its Superdry Sport and Superdry Snow collections for women, making the brand a strong contender for Christmas wish lists.

    “However, while its first six months have benefited from soft comparatives, the second half is set to be more demanding,” she concluded.

    SuperGroup’s full year pre-tax profit projection remains stable at £72.1 million.

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  • Bauhaus posts loss as margins squeezed

    Bauhaus posts loss as margins squeezed

    Fashion retailer Bauhaus has reported a net loss of HK$26.6 million for the first half year after sales tumbled in key markets.

    In Taiwan, where it has 95 stores and counters, stagnant retail sentiment and weak consumption presented great challenges, with same-store sales tumbling 18 per cent.

    In Mainland China, where the group has self-managed shops in Beijing, Shanghai, Guangzhou, Nanjing and Suzhou and a franchise network focusing on the second-tier cities, turnover dropped by 4.9 per cent to about $58.4 million and same store sales slipped two per cent.

    And in Hong Kong and Macau, same store sales declined by seven per cent in the first half year.The two territories account for about 73 per cent of the locally listed company’s sales through 90 stores, less than half its total network of 228.

    The group’s turnover is mostly from its major in-house labels like Salad, Tough and 80/20, and licensed brands including Superdry.

    Bauhaus opened seven new stores in  in Hong Kong and Macau in the six months to September 30 as it “continued to enrich its shop portfolio to be more attractive, efficient and competitive”.

    “However, retail performance in many sectors across the region deteriorated, possibly due to less spending from both inbound tourists and local citizens as a result of the growth slowdown in Mainland China, strong local currency and volatile finance markets. In addition, the operating costs in the region still remained high in general, particularly rentals, further cutting profit margin of the retailers.”

    Profit before tax in the two territories dropped by 57.2 per cent to about HK$24.1 million (compared with $56.3 million in the same period last year).

    Bauhaus said in its half yearly results filing that gross profit across the whole business decreased by about 11.1 per cent to $353.9 million, with gross margin declining by two percentage points to about 60.5 per cent.

    “Global economic performance was weaker than expected during the six months. The slowdown of growth in Mainland China together with the strengthening US dollar, which in turn resulted in a strong Hong Kong dollar against most Asian currencies, gradually had an obvious negative impact on inbound tourism and local retail consumption,” the company said.

    However, the group says its sales and results are greatly affected by seasonality, with the first half of the year traditionally less important than the second.

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  • Bauhaus sales slide

    Bauhaus sales slide

    Denim retailer Bauhaus International says its same-store sales in Hong Kong and Macau fell seven per cent in its second half year to September 30.

    The Hong Kong-listed street fashion retailer had 211 self-managed stores at the end of the first half year – 96 in Taiwan, 86 in Hong Kong and Macau and 29 in the mainland.

    Bauhaus International told the told the Hong Kong Stock Exchange that its same-store sales generally had slipped eight per cent overall.

    It has not released same store sales data.

    The company sells a range of imported denim and t-shirt brands including Desigual, Evisu, Superdry, True Religion and Red Pepper.

  • Superdry to launch in China

    Superdry to launch in China

    Superdry was paraded down a catwalk in Beijing to officially launch the company in China.

    The launch event showcased some of the key product lines at the British Embassy Residence.

    The Rt Hon Sajid Javid MP, Secretary of State for Business, Innovation and Skills was at the event, as well as a strong representation of a number of current and former Chinese government officials.

    Mr Javid said: said: “We are delighted to see British brand Superdry join forces with Trendy International Group as they continue to further their international expansion in mainland China.

    “For decades, fashion has been at the core of British culture, something Superdry knows only too well. 2015 marks the UK-China Year of Cultural Exchange and both markets have a great deal they can share with each other.

    “Chinese consumers have a huge appetite for British brands so Superdry is well placed for success. Good luck to both SuperGroup and Trendy International as they embark on this auspicious partnership.”

    The agreed partnership to bring Superdry, the premium British lifestyle brand to China, will see an investment of up to £18 million (180 million RMB), on a 50:50 basis across a minimum period of 10 years. The joint venture was evolved from an initial introduction from the UKTI.

    The Chinese apparel market, with a current total retail value of $351 billion, presents an immense opportunity for the Superdry brand, particularly as it is forecast to become the largest apparel and footwear market in the world, overtaking the US this year.

    Euan Sutherland, CEO of SuperGroup, said: “Today marks a significant milestone in our joint venture with Trendy.

    “We are excited at the prospect of entering this market with such an established and experienced partner. We look forward to gaining a deep understanding of the Chinese market and customer, and this launch marks another significant step in Superdry becoming a global lifestyle brand.”

    The partnership with Trendy, a highly experienced retailer which already operates 3000 stores across China, will offer invaluable market insight and knowledge.

    Trendy will utilise their expertise and knowledge of the Chinese market and consumer to manage the joint venture, with a focus on operations and logistics in China, whilst SuperGroup will provide support from the UK, concentrating on brand guidance and merchandising.

    Both Trendy and SuperGroup believe Superdry has the potential to flourish in this market as it already has the appropriate product offering, pricing model and infrastructure for effective delivery in China.

    For Superdry customers it is about attitude, not age nor demographic. The Superdry product is contemporary and fuses vintage Americana and Japanese-inspired graphics with a British style. With an increasing demand for British brands abroad, Trendy sees Superdry as well-placed.

    Jacky Xu, founder and chief executive of Trendy International Group said: “We are delighted to be working with the SuperGroup team to launch Superdry in China.

    “Superdry is an innovative British brand, which we believe will sit well amongst our existing brands and have great appeal in the Chinese market.

    “Today, there is an increasing shift in consumer tastes in China, as individuals are moving away from the luxury brands to those more influenced by pop culture.

    “We believe Superdry is well placed to take advantage of this shift, presenting an excellent opportunity for our new partnership.”