Superdry boss pledges progress after his first six months back in charge despite a slump in sales
Superdry founder Julian Dunkerton insisted his first six months back in charge of the business amounted to a ‘reset’ despite a fall in sales.
The fashion company pulled in £368million of revenues in the six months to October 26 – 11.3 per cent less than the year before.
Dunkerton, 54, founded the company in Cheltenham in 1985 as Cult Clothing, but stepped down from the board in 2014.
Back in charge: Julian Dunkerton, 54, founded Superdry in Cheltenham in 1985 as Cult Clothing, but stepped down from the board in 2014
He later sold £52million worth of shares to pay for a divorce from his first wife Charlotte Abbot.
Earlier this year he orchestrated a boardroom clear-out, dubbed the ‘Dunkerton putsch’, and returned to head the firm, ousting chief executive Euan Sutherland.
Dunkerton, who donated £1million to the People’s Vote campaign for a second Brexit referendum, has promised to restore the fashion retailer to its ‘former glory’ by returning to its ‘designled roots’.
He partly blamed the drop in sales on removing ‘constant’ price promotions, and this had helped margins.
The father-of-two said: ‘We are making good progress with the start to our turnaround plan.’