Superdry takes steps to develop new licensing programme
The move is led by the British fashion retailer’s 'new' CEO Julian Dunkerton, its co-founder who returned to the company earlier this year after running a determined campaign to oust former chief executive Euan Sutherland.
In one of Dunkerton’s first actions as CEO, he scrapped a footwear licensing deal with Pentland Brands, which produces shoe collections for brands like Karen Millen, Ted Baker and Kickers.
IMG will act on behalf of Superdry to negotiate new licensing partnerships in order to help it broaden its portfolio of licensed products. The company said these may include luggage and travel-related items, personal accessories, consumer electronics and sporting goods, all reflecting Superdry’s brand ethos.
Speaking about the multi-year deal with IMG, Dunkerton said: “We look forward to working with IMG and partnering with other brands as Superdry enters the next stage of its growth. IMG’s extensive licensing experience with fashion brands makes it the ideal partner and we are excited to explore creative opportunities that best resonate with Superdry’s brand.”
Matthew Primack, SVP of Licensing at IMG, added: “With an instantly recognisable identity and a powerful brand personality that embodies fun and individual empowerment, we see many opportunities to apply the Superdry style and philosophy to products of relevance and we are delighted to be working with the Superdry team.”
Superdry’s share price has fallen by almost 70% over the past year, and was trading at £3.91 on Thursday morning. Investors’ pessimism comes after a tough year for Superdry, with the firm plunging into the red in the 52 weeks to 27 April 2019 with a loss of £98.5m.
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