Superdry co-founder Julian Dunkerton has reportedly met the retailer’s chairman as he ramps up his campaign for a possible return to the business.
According to The Sunday Times, Dunketon had a meeting with Peter Bamford on Thursday where he conveyed his concerns about Superdry’s future.
The meeting came after the British retailer last month warned full year profits would come in £10 million lower due to the warmer-than-usual summer across the UK, continental Europe and the east coast of the US.
The Times said Dunkerton is understood to have spoken to eight of Superdry’s top 10 institutional investors in the past few weeks, and is now set to make contact with smaller shareholders.
The meetings have reportedly been “very positive” and that his campaign to return to the fashion retail chain that he helped establish over 30 years ago was starting to gain “real momentum”.
Despite this, Bamford reportedly met Dunkerton in the interests of good corporate governance and insists chief executive Euan Sutherland’s current strategy is the right one.
“We remain focused on delivering our agreed strategy under our talented leadership team,” a Superdry spokeswoman said.
Last month, Dunkerton told The Times that he had left Superdry in March to focus on his other businesses after he “felt a change of strategy” at the retailer and “didn’t want to be part of that”.
However, he has since been publicly critical of its financial performance as share prices plunged and he also critiqued its move for reducing its product lines when competitors were doing the opposite.
“I just can’t sit back and watch 30 years of my life be gently eroded,” Dunkerton said at the time.
Superdry’s first shop opened in London’s Covent Garden 14 years ago and with the help of co-founder James Holder, Dunkerton’s leadership saw the fashion retailer grow to 550 stores in 49 countries.