The fashion retailer LPP on 22 September announced its key corporate targets for 2018. The company plans to enter two new geographical markets next year: Israel, where it will open franchise stores, and Slovenia, where it will open owned stores. This will take the number of countries where LPP has a store footprint to 23. LPP's total floorspace is targeted to increase by 10% in 2018, to approximately 1,114,000 m2, of which 547,700 m2 in Poland, 277,700 m2 in other European countries, 276,600 m2 in the CIS countries, and 12,500 m2 in the Middle East.
LPP also plans to launch online stores for all its brands (Reserved, Cropp, House, Mohito, Sinsay) in four new countries in 2018, namely Bulgaria, Croatia, Serbia, and Slovenia, thus taking the number of online markets to 16. And it wants to achieve a 100% jump in internet sales. (A similar increase is projected for this year.)
As vice president Przemyslaw Lutkiewicz commented, LPP wants to open stores in at least one new foreign country each year. International debuts help the company build global awareness, which is crucial for further dynamic growth of LPP, he said.
E-commerce is a very important part of LPP’s strategy, Mr Lutkiewicz also said. LPP currently has 45 online stores for its various brands in nine countries, and believes its growing online presence will bring many benefits. The internet offers infinite opportunities as a complementary channel for connecting with customers, LPP vice president explained.
At the end of June 2017, LPP had 1,710 stores. It has since opened its first store in the UK, and the company will open its first stores in Kazakhstan later this year.