Supergroup share price surges as Idris Elba takes centre stage
SUPERGROUP, the maker of Superdry clothing, is roping in potential future Bond Idris Elba to help grow its business.
The star of The Wire will collaborate on designing a premium fashion range for Superdry, the retailer revealed among a host of plans, which sent shares surging 6.2 per cent yesterday.
In addition to the range from Elba, the company will also begin paying a dividend, beginning with an interim dividend in 2016 and has added RBS and Morrisons non-executive director Penny Hughes to its non-executive board.
Chief executive Euan Sutherland told investors that the fashion group has taken over sole distribution in the US market for a cash consideration of £22.3m, ending a licensing partnership with SD USA, following a similar move in Scandinavia, Germany and Spain.
“We are setting out our strategy to deliver sustainable growth, as we continue progressing towards our goal of creating a global lifestyle brand,” Sutherland said.