Superdry founder Julian Dunkerton has claimed he does not care that it is increasingly being viewed as a “dad brand,” as he sets about restructuring the business.
Dunkerton told The Telegraph he was “not ashamed” of attracting older customers after the retailer had to launch a significant restructuring programme following a decline in revenues.
He said: “I’m not ashamed of having a 50-year-old consumer as long as I’ve got a 16-year-old coming through as well.”
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The CEO explained Superdry’s inability to modernise had been driven by excess stock at the retailer.
He said: “The fact is that we’ve had to deal with 19 million garments and have been quietly reducing them.
“But if you’re releasing three million garments into the market that are old and historic, it’s going to hurt your brand and stop you from developing.”
He added: “We’re almost at the point where we need to focus on creating new products and pushing forward.”
The news comes after Superdry said it would exit the stock exchange yesterday as it confirmed its restructuring plan.
Superdry has pinned its revival hopes on gaining rent reductions across 39 UK stores, an equity raise underwritten by founder Julian Dunkerton, as well as delisting from the stock market.
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