SuperGroup to launch £400m flotation

Fashion retailer SuperGroup is expected to launch a £400m flotation in the UK stock market.

The rapidly growing British group, which owns the Superdry brand, had earlier appointed former Vodafone director Peter Bamford as chairman in preparation for a listing. SuperGroup's move comes despite several big names such as New Look, Travelport and ¬Merlin Entertainment deciding to pull their IPOs last week, citing volatile market conditions and lack of interest among investors.

It is understood that SuperGroup's plans for the future include more stores, concessions and a multilingual website for shipping to customers overseas. The company also plans to add more shoes and underwear brands.

SuperGroup sells street-style clothes and owns brands such as Cult Clothing and 77Breed which are popular with celebrities. With total sales of £119m, it employs around a thousand staff in 40 stores in the UK and Ireland. It has 54 House of Fraser concessions.