×
355
Fashion Jobs
H&M
Facility Manager - h&m Group Head Office in Stockholm
Permanent · Stockholm
H&M
Label Compliance Specialist - Global Label & Packaging Content Solutions Team
Permanent · Stockholm
H&M
Business Expert Within Allocation Precision
Permanent · Stockholm
H&M
HR Business Partner to h&m Kids
Permanent · Stockholm
H&M
Product Owner For Loyalty Products Within Customer Engagement Area
Permanent · Stockholm
H&M
Business Expert Within Allocation Precision
Permanent · Stockholm
H&M
Way of Working Specialist - Data & Analytics at h&m Business Tech
Permanent · Stockholm
H&M
Business Expert in Inclusion & Diversity to h&m Group Business Tech
Permanent · Stockholm
H&M
Product Owner – Gift Card Experience
Permanent · Stockholm
H&M
CRM Specialist E-Mail And Push
Permanent · Stockholm
H&M
Product Owner to Payments Area
Permanent · Stockholm
H&M
Project Leader to Business Unit Menswear
Permanent · Stockholm
H&M
Product Owner – Mobile Devices in Store
Permanent · Stockholm
H&M
Business Expert to Digital Product Data Carriers
Permanent · Stockholm
H&M
Product Owner Within Topdown Planning Regions And Markets to h&m Group
Permanent · Stockholm
H&M
Talent Acquisition Partner to Business Tech – h&m Group
Permanent · Stockholm
H&M
Global Head of SEO
Permanent · Stockholm
H&M
Product Owner to Customer Engagement Area at h&m
Permanent · Stockholm
H&M
Senior Data Analyst to Allocation Precision Team to Business Tech
Permanent · Stockholm
H&M
Team Responsible Operational Purchasing
Permanent · Stockholm
H&M
HR Specialist With Focus on HR Analytics to Business Tech HR
Permanent · Stockholm
H&M
Agile Program Manager Within Supply Chain
Permanent · Stockholm
Published
Jun 18, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Superdry ends China JV, shuts stores as online, wholesale become focus

Published
Jun 18, 2020

Superdry is to take back control of its China operations, the UK fashion retailer said Thursday. Following a review of its “long-term business plan”, Superdry said it has reached an "amicable agreement” with its current local partner Trendy International to exit their joint venture (JV). “This will leave Superdry free to determine how it will trade in China in the future,” it said.


Superdry


 
The JV, which was formed in 2016, currently has 25 owned and 41 franchise stores in China. However, the owned retail stores are due to close by the end of August, while the franchise partners “will end their relationships by the end of the year”, it said. 
 
Superdry anticipates that around £6 million will be written off in its FY20 accounts as a result, it added.
 
The JV exit is part of Superdry's transformation plan for the group, “putting in place the right infrastructure and business models in each of its core markets, and has been accelerated by the impact of Covid-19”.  
 
Recognising it has many loyal customers in China and, as it resets its brand, Superdry said it “will assess the right operating model for China to maintain a presence in what remains a large and attractive market”.
 
CEO Julian Dunkerton said:I believe that China represents a huge opportunity for Superdry in the longer term. As the way people are shopping there changes, it makes sense for us to shift our focus to the growth channels of online and wholesale. Combined with the improvements we are making to our product ranges, I am confident that this is the right time for us to take back full control of our brand in China and to re-position our operations in the region to deliver profitable future growth for Superdry.”

Copyright © 2021 FashionNetwork.com All rights reserved.