Yahoo Finance Idris Elba To Design Superdry Clothing Range
The company behind the Superdry fashion brand has announced a plan to broaden its appeal by signing actor Idris Elba to design a premium clothing range.
SuperGroup (LSE: SGP.L - news) made the announcement in a strategy update to its investors.
It also confirmed it had gained the exclusive rights to distribute its products in the US, Canada and Mexico by buying out its existing US licence for £22.3m.
Chief executive Euan Sutherland, who took the job after leaving the struggling Co-operative Group a year ago, added that SuperGroup would start paying dividends in its 2015-16 financial year.
The update helped its shares rise more than 8% in early trading on Thursday.
The firm, whose trademark jackets, hooded tops, check shirts and jogging bottoms are popular with teenagers and twentysomethings, forecast a pre-tax profit of £60m-£65m for 2014-15 year, in line with previous guidance.
Superdry, which trades in more than 100 countries, now has over 135 UK and European standalone retail stores and operates from a growing portfolio of concessions, franchised and licensed stores.
Trade rebounded in the UK over Christmas following a warm autumn, which hit demand for winter clothing across the fashion sector.
Mr Sutherland said: "Today we are setting out our strategy to deliver sustainable growth at SuperGroup, as we continue progressing towards our goal of creating a global lifestyle brand.
"Superdry represents British innovation, quality premium products at affordable prices sold to customers around the world.
"Superdry is an iconic brand with a strong heritage and we will continue to broaden and strengthen its appeal to customers across countries and age groups."
On its partnership with Idris Elba, best known for his role in The Wire and recently linked with the main villain role in Star Trek 3, SuperGroup said he would "collaborate with Superdry to design and produce a premium line of clothing which will be sold globally in stores and online, as well as through wholesale partnerships from Autumn/Winter 2015".
"Idris, who will be designing the range with James Holder (its main designer), will be the face of the line.
"This exciting collaboration is evidence of SuperGroup's commitment to British innovation, and the development of a premium range."
