According to reports in foreign media, British clothing brand Superdry plans to withdraw from the Chinese market in July 2020.
Prior to this, Superdry's partner in China Trendy Group, parent of ochirly, revealed that affected by the global epidemic, Superdry and Trendy Group were reviewing their joint venture business and Superdry's operation in China. Meanwhile, Trendy Group's other brands will maintain normal operation and they are confident in the market. At that time, Trendy Group said they were communicating with the headquarters of Superdry.
Now the communication result is out and Superdry plans to take back control of Chinese business and close all owned stores by the end of August 2020.
Superdry recently released an announcement, stating that the group had reached an agreement with the Chinese partner Trendy Group. Based on the agreement, Superdry will quit the Chinese joint venture they established in 2016 and take back its control of the Chinese business.
At present, Superdry has 25 owned stores and 41 franchised stores in China. All owned stores will be closed by the end of August and the brand will continue its sales in China via e-commerce and wholesale channels in the future.