SuperGroup announced that British actor Idris Elba will “collaborate” with its trendy high street clothing brand Superdry and help design a new “premium line of clothing” to boost future growth.
It also appointed Penny Hughes as a non-executive director. Hughes is still a non-executive director for the Royal Bank of Scotland.
Euan Sutherland, the former CEO of the Co-operative Group which he ceremoniously left after calling the company “ungovernable,” will also help the company “deliver sustainable, long-term growth.”
“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,” said Sutherland, who was appointed CEO in October last year, in a statement.
“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.”
SuperGroup also confirmed that it has gained the exclusive rights to distribute Superdry products in the US, Canada and Mexico by terminating the existing US licence.
It also was keen to point out that SuperGroup’s expected profit outcome for 2015 remains in line with previous guidance (in the range £60 – £65 million). This is probably because SuperGroup CFO Shaun Wills had to leave the company last month for one of the most embarrassing reasons possible: He was personally declared bankrupt.
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