SuperGroup enters Turkey with Demsa deal

LONDON, England - SuperGroup, the British company behind the Superdry fashion brand, said it would enter the growing Turkish market through a partnership with local player Demsa Group.

The group, whose celebrity fans include Real Madrid goalkeeper Iker Casillas and singer Ed Sheeran, said on Thursday it has signed a five year exclusive franchise deal with Demsa.

Demsa will open three stores by early 2014 - two in Istanbul and one in Ankara. A minimum of eight stores are expected to open throughout the agreement.

Demsa will also carry Superdry products within their Harvey Nichols department stores and their Brand Room stores.

Superdry is now sold in over 50 countries through the group's franchised and licensed network and in over 100 countries via its websites.

Last month the firm signed a 10 year distribution agreement with FJ Benjamin to grow the brand in Malaysia and Singapore.

Shares in SuperGroup, which is due to update on first quarter trading next week, closed Wednesday at 1,170 pence, valuing the business at 942 million pounds ($1.48 billion). ($1 = 0.6374 British pounds)