LPP fashion retailer eyes revenues growth of 25pct annually
May 20, 2014
Fashion retailer LPP aims at growing by some 25% annually, which is likely to bring EUR 10 billion revenues in 2023, LPP CEO Marek Piechocki told Parkiet daily.
In order to boost revenues the company wants to develop on the German market, where it will open its first several stores in 2014, Piechocki said.
In 2015, the company is likely to open its stores in London, Milan and Paris.
However, this year, new outlets in Western Europe will make only several percent of the whole space and if LPP opens there 20,000 sqm of new stores the result will be good.
The company's development on eastern markets slowed down as an effect of the ongoing conflict between Russia and Ukraine, but the company does not intends to withdraw from these markets.
The company is preparing for a launch of its new, sixth brand, whose first collections will be available in 2016. The level of prices in the new stores will be twice as high as in LPP's Reserved brand.
LPP has no plan to grow through acquisitions and prefers to develop new brands rather than buy existing ones, Piechocki added.