Superdry vows to be cool again: Multi-millionaire boss pledges to reinvent the struggling 'dad brand' and target more Gen Z shoppers after posting losses of £25m By Tash Mosheim Published: 06:43 EDT, 16 July 2024 | Updated: 06:47 EDT, 16 July 2024 e-mail View comments Superdry, once the go-to clothing brand for celebrities including David Beckham , Kate Winslet and Leonardo DiCaprio , has seen its star fade, gaining a reputation as a 'dad brand' while grappling with huge financial losses. But now the apparel company has vowed a comeback as its millionaire boss pledged to reinvent it target more Gen Z shoppers after posting losses of £25m. Julian Dunkerton, the founder of Superdry, is determined to restore the brand's cool factor as it transitions from being a London Stock Exchange (LSE)-listed company.
Dunkerton, 59, who established Superdry in 2003, aims to make the brand more relevant to customers through a significant overhaul, marking the end of its 15-year presence on the LSE. Superdry's latest financial report in January showed a 23.5% revenue decline to £219 million in the six months leading up to November, with losses widening to £25 million, raising concerns about potential administration.
In response, Dunkerton, also the CEO, initiated a rescue plan involving rent reductions for underperforming stores, an equity raise of up to £10 million, and the company's delisting from the LSE, set to complete on Monday. David Beckham is just one of a number of high profile .