Superdry, a UK based brand owned by SuperGroup plc, which is currently sourcing 29 per cent of its products from India and Sri Lanka, is in the process to start its own office in Gurgaon. Hiring in QA, QC, merchandising and PD departments for the new office is in full swing; however no name as yet has emerged as probable country manager. Currently, the brand is working with almost a dozen buying houses as well as many factories in India, and it will take another 4 months to start its own operations. It is being said that the company will take complete control of all its sourcing, routing it through its new office; so buying houses working with it will lose a major chunk of business. Its current sourcing from India is at least US $ 67 million (Rs. 400 crore) per annum.
“In order to move the management of our India production away from third party agents and towards direct relationships with factories, and to drive competitive advantage and cost savings, we are opening a new sourcing and production office in Delhi region. As we are growing, our sourcing from Asia, especially from India and Sri Lanka will also grow and it may reach up to 34 per cent,” communicates a statement from the company. Two-thirds of its products manufactured in this region are made in Delhi-NCR, which accounts for the selection of location for the new office. Sources confirmed that Sri Lanka operations will also be headed at India office.
Superdry is known for high-quality fashionable menswear, womenswear and accessories, fusing vintage Americana and Japanese graphics with a British style. The brand has almost 100 standalone stores in UK and 43 owned stores and 169 concessions across Europe. It is expanding its reach into 46 countries and 5 continents; selling through 18 international websites. The company’s ambition for growth was proven when even in a difficult year 2013-14, the brand registered a 20 per cent rise in revenue to £ 431 million and a 19 per cent rise in underlying profits to £ 62 million whilst investing in several new systems and a state-of-the-art global distribution facility. The company sells approximately 21 million units per annum globally, which is projected to increase to approximately 37 million units within the next 3 years.