Supergroup, parent company of the Superdry brand, has announced the takeover of the brand’s distribution in North America –US, Canada and Mexico– for a value over €30 million as part of its strategy update. Supergroup’s distribution license in North America was granted to SDUSA LLC in 2008, originally for a period of 30 years.
The move follows Supergroup's acquisitions of the Scandinavian, Spanish and German partners over the last 18 months. The payment has been done with existing cash resources and as part of the transaction 15 leases will be assigned to the group. Due to the reacquisition of its distribution rights, Supergroup expects North American operations to be profitable first in 2017.

Also on the financial front, the company has communicated that a first interim dividend payment will be executed in 2016.

In addition to these novelties, the firm has appointed a new member to its board: Penny Hughes, who steps in as independent non-executive director effective from 1 April 2015. Penny is currently a non-executive director of WM Morrison Supermarkets and The Royal Bank of Scotland Group.