Superdry founder Julian Dunkerton unveils plan to revive the chain

Superdry founder Julian Dunkerton today launched his manifesto for reversing the dwindling fortunes of the fashion giant he created.

The multimillionaire who quit in March after disagreeing on strategy, told the Evening Standard of his “dismay” at the company’s share price collapse. He had been scaling back his involvement long before quitting but retains an 18.5% stake.

“I cannot sit back and watch my shareholding — and those off all the pensions invested in the company — be dissipated,” he declared.

Dunkerton has hired broker Cenkos to persuade shareholders to install him back at the company to try and turn it around. He wants to reverse the current strategy of pushing more “fast fashion” through the stores. Rather, he said, Superdry should stick with fewer, core ranges in store and massively increase the designs and varieties (known as SKUs) being sold online.

“Last Christmas we were at a point where we could hit fast fashion online. We were such a strong brand that we could really increase our SKU count. But they [the new management] did the reverse.

“If you put that product online you would expand brand awareness and create excitement online while combining it with the classic store base.”

Reducing the amount of stock changes in shops would mean the company could improve the shopping environment and cut the amount of unsold goods . “My model means less wastage. It is far easier to manage and you have lower stock risk.

“There are too many products in the stores with short shelf life. You shouldn’t try and change it all the time. Get the product right and be confident in it.”

“There’s no reason a jacket in October shouldn’t stay until March. Now, you see jackets on sale already. Can that be right?”

He said having new fashion ranges coming in and out of the shops was too distracting from the core purpose of a fashion store: “You have to make the stores like a sweetshop of excitement. Today, they have no visual merchandising person in charge of the stores.”

It was crucial to have many, fast changing ranges available online to win new, young customers but with shorter product runs. “Last time I looked, Asos had 85,000 product lines online.”

He added: “In 30 years I grew this brand every year. I do know how this business works. You have to give the customers exciting products in the channel they want.”

Dunkerton is supported by fashion entrepreneurs from veteran Harold Tillman to Asos founder Nick Robertson and Boohoo’s Mahmud Kamani.

Co-founder and 10% shareholder James Holder is also behind him.

Shareholder Aberdeen Asset Management is supporting current management, saying Dunkerton left after multiple profit warnings.

Dunkerton said: “The brand is brilliant; we are the only brand people are really proud to wear on the outside of their clothes with mass market appeal.”

“I am offering to go in and get the product and brand back on track. This is not about ego, or about me. This is about brand and product doing the right thing. It’s important we grasp there has been a mistake.”

Asked why he left the brand rather than attempt to change the strategy from within, he said: “I could see there was an absolute decision that this was what they wanted to do.”

Superdry chairman Peter Bamford said: “The Board of Superdry has huge respect for Julian Dunkerton as an entrepreneur and founder of the business. Julian has raised a number of issues with the board regarding strategy since he left the business. We have reviewed and discussed these issues and, while we have sympathy with some of his points, we have a different view on the best strategy or approach to addressing them.

“Superdry is an ambitious, global, multi-channel brand and the Board believes that Julian’s view of strategy has not evolved with the needs of the business. We remain fully committed to our successful global digital brand strategy and the board is confident that Superdry has in place the right leadership to ensure the continued development of our highly relevant brand.”