Superdry has now confirmed an amicable agreement to end its Chinese joint venture with Trendy Group and will reassume full control of its brand there. All twenty five existing company-owned stores will close by the end of August, and also forty one franchised stores by the end of the year.
“I believe that China represents a huge opportunity for Superdry in the longer term. As the way people are shopping there changes, it makes sense for us to shift our focus to the growth channels of online and wholesale. Combined with the improvements we are making to our product ranges, I am confident that this is the right time for us to take back full control of our brand in China and to reposition our operations in the region to deliver profitable future growth for Superdry.” – Julian Dunkerton, Superdry CEO.
