Supergroup, the owner of the UK Cult clothing chain and the fashion label Superdry, announced that its sales has increased by 59.8% during the first fiscal quarter of the group's business, which covers a duration between May and July. Through this recent increase in the sales, Supergroup emphasized its position as the sole retailer that managed such a fast growth in the UK.
In addition, the UK group announced that it is planning for the introduction of more outlets in the coming months, or more specifically before Christmas, at Glasgow's St. Enoch Centre, in order to maintain a gradually increasing growth.
Julian Dunkerton, the Chief Executive of the Supergroup, informed the Financial Times that regions from South America to the United Arab Emirates are included in the development plan. The group would be launching its first franchise store in the Middle East, in Dubai, in association with Taiwan's series of department stores. These stores would come in addition to the two franchises in Los Angeles and San Francisco.
He added, "We currently have 45 franchises in 14 countries. By the end of the fiscal year we're looking to have about 74 in 21 countries. You can really see what's happening".