- Superdry Was Founded by Julian in 2003
- Having served as interim CEO since Apr 2, the name of Dunkerton will now be CEO and will continue until April 2021
Julian Dunkerton, the owner of the British clothing group Superdry, became the permanent chief executive of the firm after winning an acrimonious management battle in April, it said on Monday (Oct 14).
Dunkerton, the largest shareholder of the company with an 18.5% stake, joined the board in April, forcing existing directors, including chief executive Euan Sutherland, to resign.
Having served as interim CEO since Apr 2, the name of Dunkerton will now be CEO and will continue until April 2021.
“The announcement of today reflects the unanimous opinion of the board that it is the right person to lead the company through this critical initial turnaround process,” it said.
Superdry said the selection committee of the board would continue the process of seeking a successor to the long-term CEO.
Dunkerton said that his plan was to “see early signs of progress, “but warned that “this will take time.”
The return of Dunkerton followed a series of profit warnings as the retailer struggled to grow beyond his random Japanese text sweatshirts, hoodies and jackets, and demand dropped in his wholesale and e-commerce market.
Julian has a clear vision and his innovation, determination and leadership will be key to the company turnaround,” Superdry chairman Peter Williams said in a statement on Monday. “As interim CEO, Julian has already worked closely with the team to execute this project and the requisite foundations are being laid while much remains to be done.”
The group reported a pre-tax loss for the year 2018-19 of 85.4 million pounds in July. Over the last year, their shares have fallen by 56 percent.
Superdry’s board said Dunkerton agreed to continue in the position, overseeing its plan to return the brand to its design-led roots and restore growth to the company.
Superdry Was Founded by Julian in 2003:
Julian launched his foray into fashion at the Cheltenham market with a clothing stall. Across cities like Cheltenham, Cambridge, Birmingham and Edinburgh, it grew into the label Cult Clothing, which marketed vintage-looking, Americana influenced clothing. In the meantime, James experimented with design and screenprinting and eventually created the Bench brand of skatewear. When the two met, they quickly bonded with product, progress, and pushing boundaries over their obsession. Superdry was born after an inspiring trip to Tokyo by combining Julian’s passion for incredible tailoring, high-quality fabrics and vintage washes with James’ love of typography and graphics.