LPP has reiterated a target to increase its sales area by around 25% in the 2024 financial year and the number of new shops by 700 to 2,975 by the end of January 2025, compared to 2,275 shops at the end of January 2024, the company said. It also aims to develop the Sinsay shop network and increase the number of shops by 620 to 1,598 at the end of January 2025 (978 shops at the end of January 2024).
Meanwhile, the number of Reserved, Cropp, House and Mohito shops is expected to increase by 80 to 1,377 shops against 1,297 at the end of January 2024, the results presentation stated.
The company pointed to the opening of Sinsay brand stores in smaller towns, mainly retail parks.
The largest store growth in 2024 outside Poland will be in Southern and Central-Eastern Europe, it stated.
In 2024, an increase in space of approximately 25% y/y. Growth target in 2025-2026: approximately 20% area growth per year.
At the end of April, LPP Group had 2,382 shops (up 337 y/y), of which Sinsay – 1,041 (+255 y/y), Reserved – 363 (+13 y/y), Cropp – 378 (+29), House – 366 (+23 y/y) and Mohito – 234 (+17 y/y) brands, the company listed.
LPP manages the fashion brands Reserved, Cropp, House, Mohito and Sinsay. The company has been listed on the Warsaw Stock Exchange since 2001; it is part of the WIG20 index. In the 2023 financial year (February 2023 – January 2024), the company had PLN 17.4 billion in consolidated revenues.
Source: LPP and ISBnews
