Superdry founder banks over €20m in share sale

Superdry founder banks over €20m in share sale

The co-founder of Superdry has bagged €20.3 million after offloading a chunk of shares in the fashion retailer.

Julian Dunkerton, who now acts as the firm’s product and brand director, sold one million shares at €20.26 each, or 1.23% of the group.

It comes following 12 months of share price gains for Superdry, which was previously knows as SuperGroup.

Shares have risen 20% over the past 12 months and were only stopped in their tracks after it revealed that half-year profits had declined earlier this month.

The fashion firm booked a 13% rise in group revenue to €245.4m during the festive period, but the January update came as the retailer unveiled a 28% fall in half-year pre-tax profits to €10.4m, sending shares 9% lower on the second tier of the London market.

Following the transaction, Mr Dunkerton, who founded the business in 1985 from a market stall in Cheltenham, still holds 25.36% of the company and remains Superdry’s largest shareholder.

In 2016, Mr Dunkerton sold just under €56.9 million of shares to fund a divorce settlement with Charlotte Abbot.

The clothing retailer - famous for its hoodie tops and T-shirts - floated on the London Stock Exchange in 2010.

PA

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