Superdry co-founder Julian Dunkerton has sold a 6.7 per cent stake in the retailer, bagging £71 million in the process.
Dunkerton, who announced his departure as director of the fashion brand back in March, has sold 5.5 million shares at £12.85 each.
His stake in the fashion retailer has now been reduced to 18.5 per cent.
The businessman has agreed not to sell any more shares for 90 days following completion of the placing.
The news comes just a few months after Dunkerton sold a 1.23 per cent stake in the brand in January, earning him £17.8 million.
Dunkerton co-founded Superdry with designer James Holder in 2003 and was chief executive of Superdry up until 2014, when he was succeeded by Euan Sutherland.