TURKEY: Supergroup to open stores in franchise deal
UK clothing retailer Supergroup, owner of the Superdry brand, is set to enter Turkey through a franchise deal with luxury and lifestyle retailer Demsa Group.
The five-year franchise agreement will see the company open three stores - two in Istanbul and one in Ankara - by early 2014. Demsa Group is expected to open a minimum of eight Superdry stores through the agreement.
Demsa will also carry Superdry within its Harvey Nichols department stores and its luxury multi-brand concept stores called Brand Room.
"Turkey is a territory that has held our interest for some time and our partnership with Demsa Group offers the perfect opportunity to enter this diverse and growing market," said Superdry CEO Julian Dunkerton.
"Demsa Group has an excellent understanding of our brand ethos and we look forward to growing the partnership."
In July, Supergroup revealed plans to expand internationally, with agreements to enter Chile and Peru with Cencosud, as well as Malaysia and Singapore with FJ Benjamin. It also intends to open a local language e-commerce site in China in the coming year.
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