SuperGroup founders set up incentive scheme to share the wealth

The founders of SuperGroup have launched a long-term incentive scheme to share their wealth with all 4,500 of their employees.

The company, known for its Superdry clothing brand, said the scheme - which will run from 1 October 2017 to 30 September 2020 - was part of a wider strategy to "attract, retain and reward the best people".

Founders Julian Dunkerton and James Holder will transfer 20% of their gain from any increase in the group's share price over £18 into a fund and the proceeds will be shared across the colleague base. Each £5 increase in the stock over the £18 threshold would see the founders putting £30m into the fund for all colleagues, including part-timers.

At 1440 BST, the shares were trading up 0.4% at 1,567p.

Chief executive officer Euan Sutherland and chief financial officer Nick Wharton, who participate in existing long-term incentive arrangements, have waived their entitlement to take part in the scheme so it can cover everyone in the group's stores and head office. The entire cost of the plan is being funded by Dunkerton and Holder.

For each £5 share increase over the £18 threshold, full-time store staff and those in the most junior head office roles would be awarded up to £2,000 at the end of the three-year plan period. The equivalent figure for store managers would be £28,000 for senior leaders up to £75,000 and for executive team members would start at £300,000. All awards will be over and above existing pay and bonus arrangements.

Sutherland said: "SuperGroup's strategy is delivering for consumers, colleagues and investors, driven by the hard work of our people that drives the relentless innovation across our business. We have achieved significant growth in sales and profits across all channels and geographies, while operationally transforming the business as a global team.

"We remain confident in our strategy and believe that this innovative approach to reward for everyone will help us attract and retain the very best talent as we continue to deliver for consumers and create sustainable value for our investors."