Booming SuperGroup feeling confident

The boss of SuperGroup, which owns the massively popular Superdry clothing brand, today brushed off concerns about unemployment and the VAT hike hitting sales, saying even people who are struggling for funds "still have to look good".

Julian Dunkerton, who founded the brand on a Cheltenham market stall in 1985 and is now chief executive, said of all British retailers he was "worried the least" about a sales slump. "Our market positioning is good. We're not overpriced," he said.

"People pick things up in our stores and say 'I want this product,' then they buy it. They still have to look good. It's part of being young," he added.

Dunkerton's claims were backed up by super-strong figures today, with sales up almost 60% to £32.8 million in the three months between May and September.

Supergroup opened five shops in the period, including one at Lakeside Thurrock, which Dunkerton said was the company's most successful opening this year because "it's a beautiful store".

Dunkerton responded to concerns sales would drop off when the brand loses its lustre by claiming: "We're not reliant on one product, one bit of branding or one logo."

Supergroup's shares have more than doubled in price since it floated in March, making it the most successful IPO this year.