Superdry boosts sport ambitions with Invictus Games deal, buys Netherlands agent
Superdry is ramping up its sport ambitions following the launch of its separate Superdry Sport label and on Monday it said it has become official clothing supplier for the UK delegation to the Invictus Games. It will get major exposure at the next games during October 2018 in Sydney, Australia.
Parent company SuperGroup (which will next year change its name to Superdry) said the Sport brand’s in-house team of designers and technicians will create “full technical training and competition-wear for the UK competitors. Training and leisure clothing will also be provided for the full UK delegation, including the competitors, their family and friends, the staff and guests. “
The team will consult previous competitors and work with each individual 2018 participant “to develop a unique range of technical sportswear, tailored to their specific requirements.”
CEO Euan Sutherland said: "The Invictus Games has shown how the power of sport can help injured servicemen and women and their families and inspire us all. This collaboration provides further endorsement to the growing credibility of the Superdry Sport brand in terms of its design, technical expertise and attention to detail.”
The Invictus Games is an international paralympic-style event for servicemen/women and veterans that has enjoyed an increasingly high profile since its start in 2014. Founded by Britain’s Prince Harry (himself even more of a guaranteed attention-grabber since the recent announcement of his engagement to Meghan Markle), they offer the perfect mix of features for brands linked to them with a focus on sporting achievement and social good.
Those are key concerns for the Millennial consumers that the Superdry Sport brand targets.
The company has been putting major backing behind the Sport label in recent periods, developing it as a standalone and creating separate entrances for the stores where it’s available alongside the regular Superdry offer.
Meanwhile, the company also said that it expects to complete the buyout of the operations of its wholesale agent, Portare BV next month for an estimated payment of £2m. Portare will continue to be the preferred franchise partner in the territory.
The transaction will be settled in cash on completion and is anticipated to pay back within two years, including the additional cost of the necessary wholesale infrastructure, as a result of reduced commission payments.
Wholesale is a key channel for Superdry and recent results announcements have seen the company reporting strong wholesale turnover rises.
Sutherland said of the buyout: “[This] is consistent with the development strategy we have applied to other markets and demonstrates our confidence in the future growth of the Dutch market. It is a further example of our flexible, disciplined approach to building both the Superdry brand and shareholder value in each market in which the brand is present."
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