THE founders of Supergroup, the company behind the Superdry clothing brand favoured by David Beckham, could pocket Pounds 25m after putting a 35% stake in the firm up for sale through the NM Rothschild bank.
The business is seeking an outside investor to help fund an aggressive expansion programme that could have the company opening eight new shops a year as well as 15-20 concessions at House of Fraser department stores.
Supergroup also plans to expand overseas through franchise agreements in Australia and the Benelux countries.
Supergroup is majority owned by Julian Dunkerton, who founded the Cult Clothing retail chain in 1985. It has 13 Cult Clothing branches and five branded Superdry stores in large city centres, including London, Edinburgh and Belfast, as well as in market towns such as Leamington Spa and Cheltenham.
Rothschild is believed to have sent out a memorandum containing financial data on the business during the past few weeks and is short-listing interested bidders.
The owners will be hoping to buck the wider gloom in the retail sector by attracting new investors. It is thought the company is valued at more than Pounds 70m. It is likely that the owners will sell a stake of 25%-35%, which could net them up to Pounds 25m if the sale makes Pounds 75m.
Elvi, the retailer of fashion for women sized 16 and above, has been rescued from administration. It has been bought by private investors.
The terms of the deal have not been disclosed.
Copyright (C) The Sunday Times, 2008
Style icon: Superdry fan David Beckham with wife Victoria. Photograph by Big Pictures
Overseas model: Superdry's owners plan foreign expansion
"Becks' brand bosses fashion Pounds 25m sale plan." Sunday Times [London, England] 17 Feb. 2008: 3. Academic OneFile. Web. 6 Dec. 2009.
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