// Investment firm Gatemore Capital Management buys 3% stake in Superdry
// Gatemore says it is supportive of Superdry CEO Julian Dunkerton’s transformation vision
A major investment firm has snapped up a three per cent stake in Superdry after a slump in the fashion retailer’s share price.
Gatemore Capital Management said it was supportive of Superdry co-founder Julian Dunkerton’s vision to transform the company.
Dunkerton returned to the role of chief executive of Superdry last year after a boardroom coup.
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It also said it supports Superdry’s plans to take control of its branded franchise stores in China and believes there are “substantial” opportunities for the retailer in China.
Superdry is attempting to make its clothes relevant again, at a time when customers are deserting the high street to buy online.
“Superdry has shown strong resilience despite a challenging trading environment in recent months, and we are confident the business is poised to benefit from the trend towards casualwear which has been accelerated by Covid-19,” Gatemore managing partner Liad Meidar said.
“We are fully supportive of Julian’s vision for the company, including returning the brand to its design-led roots and Superdry’s strong commitment to sustainability.
“We look forward to discussing our views further with the board, management, and other shareholders over the coming months.”
Superdry stock has slumped by 73 per cent over the past 12 months alone, trading at 115p. Five years ago it was worth £14.