It has been revealed that the well-known brand Superdry’s sales have recently plummeted by 40%. Despite being a much-loved brand, particularly by students, who favour the comfy-casual design, it seems as though the clothing line may be in danger. But why?
When walking around the university campus, I can guarantee you will see many students either sporting a Superdry hoodie or wearing their tracksuit bottoms.
However, it may now be the case that there are a lot less students sporting the brand than there have been in recent years. It seems to be that the famous make, with its vintage look with a Japanese edge, is losing a vast amount of profit due to a number of different reasons.
When looking at the figures from The Guardian, Superdry’s profit has dropped significantly with the company expected to make only £43m profit before this tax year is out, compared to the £47m it made last year, which was double the figures from 2010. But why is the brand suddenly beginning to struggle?
Some say that Superdry is now being known as ‘Superchav,’ which is very off-putting to many buyers who want a comfy, laid-back look free from negative connotations.
Many also view the brand as being overpriced, with a hoody fetching up to £60, and joggers priced at a rather expensive £50. It seems as though the laid-back look is being replicated throughout the high street, and customers are now turning to cheaper stores such as Fat Face and Uniqlo for a more unique fashion style at a more attainable price.
Others believe that it is the brand’s signature look which is causing sales to drop, due to it becoming tired and out of date since coming into light in 2004. Due to the fashion industry changing so rapidly, it is hard for companies with such a dominant look to keep up with new trends.
Fashion blogger Charlie Porter states that the brand has become ‘mundane’ looking compared to what else is out there. It is thought that their logo needs revitalising, as it is unimaginative and somewhat meaningless, and the company has become too reliant on it.
After looking to myself as an example, and thinking about the Superdry garments that I own, it is safe to say that they are also lying at the bottom of my wardrobe after being replaced by other more up to date trends and cheaper brands.
However, loyal customers will be happy to know that Superdry are reacting to the recent low sales figures. Jonathan Pritchard at Oriel Securities states that, "The new spring and summer ranges are a big improvement. The value for money and quality are very good."
The brand has also recently opened a new three-storey flagship store on Regent Street, and it is hoping that this investment will both improve their overall image, and aid in bringing sales figures back up.