Julian Dunkerton, one of the founders of cult fashion label Superdry, has pledged to give over £1m in shares in the company to Blue Marine – a charity founded to protect the oceans.
The announcement came alongside the news that Dunkerton will be leaving the company to focus on other projects, including charity work.
Dunkerton, who stepped down from his position of Director on March 31st, is currently the company’s largest shareholder with a stake of around 25%. He made £17.8m in January after selling some of his shares, and sold £50m worth in 2016.
The news of Dunkerton’s departure caused Superdry shares to fall 6.5% to £15.43.
In a statement, Dunkerton said: “I am immensely proud of everything achieved at Superdry over the past 15 years. With other demands on my time, it is the right point for me to transition my focus and responsibilities.”
Superdry chairman, Peter Bamford, added: “With Superdry embarking on the next phase of its ambitious growth plans, and with other interests and opportunities available to him, Julian and I have been talking for some time about the right time for him to move on from the business. have enjoyed working closely with him over the last eight years and, on behalf of the board, I would like to thank Julian for his outstanding contribution in building Superdry into such a great brand.”
Superdry was started in 1985 as a market stall in Cheltenham and Dunkerton opened the first store in 2004 with designer James Holder. It now has more than 500 outlets in 55 countries and is expected to report over £100m profits for the 2017 – 2018 trading year.