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Fox Williams acts in SuperGroup IPO
- AuthorStephen Sidkin
Leading City law firm Fox Williams has acted in the highest profile retail IPO of the year by advising existing client, SuperGroup PLC (“SuperGroup” or the “Company”) on its £125 million fundraising and listing on the main market of London Stock Exchange plc. SuperGroup, which owns the Cult chain of shops and fashion label Superdry, raised £120m from institutional investors and £5m from retail investors, pricing the Company at £395 million.
Superdry, the Company's leading brand was launched only six years ago and is the brainchild of Julian Dunkerton and James Holder, who previously created Bench. SuperGroup employs approximately 1,000 staff and has 40 standalone stores across the U.K. It also operates 54 concessions in House of Fraser, where it is one of the best-selling menswear labels. Today, Superdry is sold in over 30 countries and the group also has wholesale and online operations.
SuperGroup is a long-standing client of Fox Williams with the law firm having advised the Company on trademark registration and protection in over 40 countries, registering designs in four major markets and handling its increasing franchise rollout.
Fox Williams Capital Markets partner, James Channo led the team, which also featured, Employment partner Mark Watson, IT partner Kolvin Stone, Banking partner Paul Taylor and relationship partner Steve Sidkin who advised on commercial and intellectual property law issues. Memery Crystal acted for sponsor Seymour Pierce on the listing and Irwin Mitchell advised SuperGroup on the group restructuring in advance of admission.
Commenting on the listing, James Channo said:
“We’re excited to have acted for longstanding client SuperGroup on its IPO which bucks the trend in the current IPO market where proposed listings have not progressed due to volatile market conditions. This listing was innovative in that it combined both an institutional and retail offer which has helped to raise publicity around the float of a company that is going from strength to strength in the fashion world and is now ready to embark on the next stage of its growth. The listing also called on the skills of a number of teams within Fox Williams and we look forward to continued success working with SuperGroup.”
Julian Dunkerton, SuperGroup founder and Director, commented
“We are delighted with the professional and supportive manner in which the Fox Williams team has helped us to achieve this listing. Their dynamism helped guide SuperGroup through this exciting period in the company’s life. Fox Williams really understands our business and ensured that the IPO process ran smoothly for management.”