Monday, 26 August 2019

Superdry founder banks £18 million in share sale

superdry

Julian Dunkerton, who now acts as the firm’s product and brand director, sold one million shares at £17.80 each, or 1.23% of the group.

It comes following 12 months of share price gains for Superdry, which was previously knows as SuperGroup.

Shares have risen 20% over the past 12 months to 1,818p, and were only stopped in their tracks after it revealed that half-year profits had declined earlier this month.

Julian Dunkerton

The fashion firm booked a 13% rise in group revenue to £215.6 million during the festive period, but the January update came as the retailer unveiled a 28% fall in half-year pre-tax profits to £9.1 million, sending shares 9% lower on the second tier of the London market.

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

In 2016, Mr Dunkerton sold just under £50 million of shares to fund a divorce settlement with Charlotte Abbot.

The clothing retailer – famous for its hoodie tops and T-shirts – floated on the London Stock Exchange in 2010.

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