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Superdry founder sells shares to fund his divorce | Superdry founder sells shares to fund his divorce |
(about 20 hours later) | |
The founder of fashion chain Superdry has sold-off just under £50m worth of shares to fund his divorce. | The founder of fashion chain Superdry has sold-off just under £50m worth of shares to fund his divorce. |
SuperGroup, the firm's owner, confirmed Julian Dunkerton had completed the sale of four million shares at £12 per share. | |
Mr Dunkerton, who founded the firm in 1985 from a market stall in Cheltenham, will still be the largest shareholder with a 27% stake in the group. | Mr Dunkerton, who founded the firm in 1985 from a market stall in Cheltenham, will still be the largest shareholder with a 27% stake in the group. |
Shares in the retailer, famous for its hoodie tops and t-shirts, fell by 6%. | Shares in the retailer, famous for its hoodie tops and t-shirts, fell by 6%. |
Superdry products are sold in over 100 countries and the company runs around 135 stores in the UK. | Superdry products are sold in over 100 countries and the company runs around 135 stores in the UK. |
Mr Dunkerton is the group's product and brand director after stepping down as its CEO in October 2014. | Mr Dunkerton is the group's product and brand director after stepping down as its CEO in October 2014. |
He was replaced by Euan Sutherland, the former boss at the Co-op, in a move aimed at boosting the operational capabilities of the business. | He was replaced by Euan Sutherland, the former boss at the Co-op, in a move aimed at boosting the operational capabilities of the business. |
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