In 2009, in the depths of the UK’s sharpest recession for nearly 90 years, the UK fashion label Superdry enjoyed a sales boom. Whereas Poundland and Primark were booming because of the recession, Superdry was booming despite it. With its jeans priced as high as £140, this is not a bargain-basement shop. That fashion-conscious young adults should fall for Superdry is understandable, but from a business point of view, it is even more impressive that cold, calculating landlords are queuing up for the brand.
In its 2009/10 financial year, the company’s capital investment spending more than doubled, from £7 to £15 million. Yet nearly £13 million of this figure was handed back by landlords. In effect, they were paying Superdry to open a shop in their shopping centres. Why? To attract young, fashion-conscious, high-spending customers.
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