Superdry co-founder’s fears for its future

Superdry co-founder Julian Dunkerton has mentioned he fears for the way forward for the style model except it adjustments course – after its newest revenue warning left the share worth 80% under its peak earlier this yr.

Mr Dunkerton is asking for shareholders to carry him again to the corporate he left in March and perform a shake-up of its technique after “dangerous choices” revamped the previous yr.

He advised Sky Information he was nervous concerning the future for jobs on the Cheltenham-based enterprise that he launched in 2003.

Mr Dunkerton mentioned: “The one choice now could be to carry me again and go ‘proper, there needs to be a strategic change’ and now could be the second.

“I’m very conscious of the ramifications of what’s presently taking place, and doubtless the job losses that will come except the technique was about to alter.

“The unhappy fact is… if it continues the way in which it is going it isn’t going to get higher, it should worsen. That is the second to show it round.”

Julian Dunkerton is co-founder of Superdry
Picture:
Julian Dunkerton is co-founder of Superdry

The interview with Sky’s Ian King was broadcast days after Superdry issued its second revenue warning in lower than two months, sending the share worth under £four after it peaked at greater than £20 earlier this yr.

Superdry’s administration has partly blamed unseasonably delicate climate for its woes – pointing to an over-reliance on chilly climate clothes.

It pointed to “lack of innovation” in its core ranges and is now trying to diversify into areas similar to kidswear – a method of which Mr Dunkerton has been important.

The corporate final week rejected the co-founder’s criticism, saying his views “haven’t advanced with the wants of what’s now a multi-channel, worldwide and more and more digital retailer”.

However Mr Dunkerton, who first went public within the autumn about his marketing campaign to return to the corporate, advised Sky Information he wished shareholders to “leap ship and power a change” after he mentioned the present administration had delivered an 80% drop in worth.

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