SuperGroup, Cheltenham based fashion company and owner of the Superdry brand has officially launched an £18m investment in China. This follows on from the announcement of a joint venture with Trendy International Group in July.
The company stated that their venture into the Chinese apparel market, which is currently valued at $351 billion, offered an “immense” opportunity for the brand.
The launch event was held at the British Embassy Residence in Beijing and featured a fashion show with local models. High profile guests at the event included Sajid Javid, Secretary of State for Business, Innovation and Skills, as well as a number of former and current Chinese government officials.
With the support of lifestyle and fashion retailer Trendy, which currently operates 3000 stores across China, the launch holds great promise for success. SuperGroup will focus on brand guidance and merchandising, while Trendy will assist with operations and logistics.
SuperGroup Chief Executive Euan Sutherland said: “Today marks a significant milestone in our joint venture with Trendy. 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.”
Jacky Xu, Founder and Chief Executive of Trendy International Group, said: “We are delighted to be working with the SuperGroup team to launch Superdry in China.
“Superdry is an innovative British brand which, we believe, will sit well amongst our existing brands and have great appeal in the Chinese market”.