Superdry co-founder makes £1m parting gift

THE CO-FOUNDER of fashion retailer Superdry is stepping down and donating more than £1m in shares, saying he plans to devote more time to other business and charitable interests.

Julian Dunkerton will leave his director position as of March 31, with creative teams stepping in to take over his product and brand work.

Mr Dunkerton said: “I am immensely proud of everything achieved at Superdry over the past 15 years.

“As a fast-growing, innovative business, Superdry has always evolved to ensure it keeps delivering. With other demands on my time, it is the right point for me to transition my focus and responsibilities.”

He has also notified the company of plans to transfer a block of ordinary shares worth up to £1.2m to sea and biodiversity protection charity The Blue Marine Foundation by way of a personal donation.

A market announcement explained the donation was part of a “wider legacy strategy” that Mr Dunkerton has been working on outside his interests at Superdry.

Superdry shares were down as much as 1.6 per cent in trading.

Mr Dunkerton founded the business in 1985 from a market stall in Cheltenham.

The clothing retailer – famous for its hoodie tops and T-shirts – floated on the London Stock Exchange in 2010.