The founder of Superdry has said he does not care that the retailer is increasingly seen as a “dad brand”, as he prepares to take the the business private.

Julian Dunkerton said he is “not ashamed” of appealing to older shoppers after the company was forced to launch a significant restructuring programme after a slump in sales.

The overhaul will lead to the business quitting the London Stock Exchange, as Mr Dunkerton seeks to rescue the business that he launched from a market stall in Cheltenham in 2003.

He said: “I’m not ashamed of having a 50-year-old consumer as long as I’ve got a 16-year-old coming through as well.”

The announcement marks the latest chapter in Superdry’s history, which started life as an in-house brand for Mr Dunkerton’s retail business Cult Clothing.

As the brand grew, Superdry’s garments became popular with millennials. However, over the last decade, it has developed an association with older male shoppers.

Mr Dunkerton, who serves as the company’s chief executive, said that the brand’s recent inability to modernise has been fuelled by excess stock.

He said: “The fact is that we’ve had to deal with 19 million garments and have been quietly reducing them.

“But if you’re releasing three million garments into the market that are old and historic, it’s going to hurt your brand and stop you from developing.

“We’re almost at the point where we need to focus on creating new products and pushing forward.”

His comments come as the fashion retailer said on Tuesday that it would quit “the heightened exposure of public markets” in July, which has been buffeted by weak sales and soaring costs.

Revenues at Superdry sank by almost a quarter (23.5pc) to ￡219m over the six months to the end of October last year.

Mr Dunkerton added: “We’re in a very turbulent, difficult turnaround situation. The speed of decision-making that is required and the cost of being in the public markets do not make sense.”

Shares in the retailer have plummeted by more than 80pc over the past six months, meaning the business is now worth just ￡6m.

Mr Dunkerton added: “[Being public] takes up an awful lot of my time and it takes up a huge amount of cost. The cost savings of coming off the stock market are enormous and will help to deliver the long-term prosperity of this company.

“If you just take the audit fee, we’re talking millions of pounds. I simply wouldn’t have to do that in a private environment.”

The decision to leave the London Stock Exchange is part of a package of measures to help avoid Superdry falling into administration.

The company is plotting a ￡10m equity raise and a major restructuring that will see around 39 of its 90 stores handed steep rent cuts.