Julian Dunkerton will continue to concentrate on returning Superdry, the brand he co-founded, to its design-led roots, strengthening the retail basics and focusing on ecommerce, as he continues at the business for a further 18 months.
Dunkerton has now moved from interim chief executive to chief executive of the business, with a contract that expires in April 2021.
In that time he aims to return the business, where in recent years sales have fallen across sales channels, to sustainable growth.
Dunkerton said: “I’m pleased that the board has asked me to continue in the CEO role for this important phase of the turnaround. Since I have returned to the business full-time, I have been working with the team to put in place the plan that will turn around Superdry, with a focus on its design-led roots and strengthening the retail basics. We are already seeing early signs of progress and while this will take time, we are excited to realise the brand’s full potential. As CEO I am fully committed to working with the board and everyone in the business to deliver this change over the months ahead.”
Superdry chairman Peter Williams said: “The board is delighted that Julian has agreed to continue in the role as CEO through to April 2021. Julian has a clear vision and his creativity, ambition and leadership will be crucial for the turnaround of the business. As interim CEO, Julian has already been working closely with the team to execute this plan and while much remains to be done, the necessary foundations are being laid. I am looking forward to working alongside Julian during this period as we seek to identify his long-term successor.”
Superdry, a Top100 retailer in IRUK Top500 research, posted an £85m loss in its latest full-year, to April 2019, with store sales down by 3.7% and online revenues up by 1.6%. At the time, Dunkerton said there was a need to return to putting the customer at the centre of the design process, while also investing online. He said: “Superdry continues to be a brand with huge digital potential and ecommerce is likely to be the fastest growing division of our business over the next five years: its high returns and capital light nature will enhance overall returns for shareholders.”
Image courtesy of Superdry