SuperGroup to supply Invictus Games gear, buying out Dutch agent

The FTSE 250 company said Superdry Sport's in-house team of designers and technicians would create full technical training and competition wear for the UK competitors.

Training and leisure clothing would also be provided for the full UK delegation, including the competitors, their family and friends, the staff and guests.

The Superdry Sport team would consult previous competitors and work with each individual competitor to develop a unique range of technical sportswear, tailored to their specific requirements, SuperGroup explained.

“The Invictus Games has shown how the power of sport can help injured servicemen and women and their families and inspire us all,” said chief executive Euan Sutherland.

“We are very proud to have been chosen to provide the performance clothing for the UK delegation.

“This collaboration provides further endorsement to the growing credibility of the Superdry Sport brand in terms of its design, technical expertise and attention to detail.”

Superdry also announced that it was expecting to complete the buy-out of the operations of its Dutch wholesale agent, Portare, in January for an estimated payment of £2m.

Portare would continue to be the preferred franchise partner in the Netherlands territory.

The company said the transaction would be settled in cash on completion, and was anticipated to payback within two years, including the additional cost of the necessary wholesale infrastructure, as a result of reduced commission payments.

“The buy-out of our Netherlands agent is consistent with the development strategy we have applied to other markets and demonstrates our confidence in the future growth of the Dutch market,” Euan Sutherland added.

“It is a further example of our flexible, disciplined approach to building both the Superdry brand and shareholder value in each market in which the brand is present.”