SuperGroup JV to invest US$27.8m in China
SuperGroup is hoping to capitalise on the growth of the Chinese apparel market
Superdry brand owner SuperGroup, and its China joint venture partner Trendy International, are to invest up to GBP18m (US$27.8m) in growing the brand's presence in the Chinese market.
The Superdry brand launched in China last month, with the two companies investing on a 50:50 basis for a minimum period of ten years.
SuperGroup is hoping to capitalise on the growth of the Chinese apparel market, which has a current total retail value of US$351bn, and presents what it says is “an immense opportunity” for the Superdry brand.
Trendy, which operates 3,000 stores across China, will focus on operations and logistics in China, while SuperGroup will concentrate on brand guidance and merchandising.
SuperGroup CEO Euan Sutherland, said: “We are excited at the prospect of entering this market with such an established and experienced partner. We look forward to gaining a deep understanding of the Chinese market and customer, and this launch marks another significant step in Superdry becoming a global lifestyle brand.”
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