Investment firm Gatemore Capital Management has snapped up a 3% stake in struggling fashion retailer Superdry. The hedge fund group says it is supportive of Superdry CEO Julian Dunkerton's plans to make the brand’s fashion relevant again, including returning the brand to its design-led roots and strong commitment to sustainability.

The retailer also believes there are “substantial” opportunities in China and plans to take control of its branded franchise stores in the region.