LPP is assuming further dynamic growth of Sinsay – the brand with the largest share of sales in the Group – and wants to have 1,000 Sinsay stores by the end of fiscal year 2023/2024 February 2023-January 2024), the company said. It wants to open another 300 stores in FY 2024/2025.
The company pointed out in its earnings presentation its flexible approach to the size of Sisnsay stores (possible areas of less than 1,000 sqm) and its competitive advantage in the form of a wide range of products available online.
LPP also said it wants to have 2 million sqm of space at the end of FY 2023/2024, with a target of 10-15% annual space growth for the next two years. The target for 2024/2025 is 2.3 million sqm of space, with 905,000 sqm in Poland and 1,395,000 sqm abroad.
As of July 31, 2023, the number of Group stores was 2,141, 385 more than a year earlier, with 1,090 (+106) in Poland and 1,051 (+279) abroad.
LPP manages the Reserved, Cropp, House, Mohito and Sinsay fashion brands. The company has been listed on the Warsaw Stock Exchange since 2001; it is part of the WIG20 index. In the 2022/2023 fiscal year (February 2022 – January 2023), the company had PLN 15.9 billion in consolidated revenues.
Source: LPP and ISBnews
Photo: Sinsay
