Asian superbrand plan for Superdry
South Korean company Cowell, an established, licensed manufacturer of sportswear and other apparel for a number of global brands, has paid an initial $50 million for the right to make garments for Superdry.
The UK-based brand said the deal would allow it to expand its reach in a number of key markets in Asia-Pacific, starting with South Korea but later extending into China and other countries too. The companies will work together to develop specific collections for those markets.
Markets in which Superdry will retain its intellectual property rights include India, Bangladesh, Pakistan, Sri Lanka, Australia and New Zealand.
Founder and chief executive of Superdry, Julian Dunkerton, said: “This agreement offers the brand a fantastic opportunity to expand its global reach, while providing additional funding to help deliver our turnaround programme in the face of the challenging consumer landscape. I’m absolutely thrilled by the opportunity to work with Cowell to create inspiring products consistent with our brand heritage and build out across the Asia-Pacific market.”
Chairman of Cowell, Lee Sun Seop, said the South Korean company’s plan was “to grow Superdry into a superbrand across Asia”.
