LPP: the thousandth store in Poland open!
LPP, the owner of six clothing brands – Reserved, Tallinder, Cropp, House, Mohito and Sinsay, opened its thousandth store in Poland. LPP was established over 20 years ago in Gdansk, and is the largest clothing company in Poland and a major player in our region. The company also opens stores in Western Europe, the Middle East and the Balkans. Earlier this year, LPP presented its first premium brand – Tallinder, and its store was opened this week in Arkadia Shopping Centre in Warsaw.
The thousandth store in the country is a feast for us, because Poland is still our biggest market – says Marek Piechocki, CEO of LPP. Our new brands debut in Poland, nearly two-thirds of our stores operate here and generate about 60 percent of revenues. We also create several thousand jobs here. We know the Polish market well and we continue to strengthen our position on it – both through brick-and-mortar stores and by improving already operating online stores of all our brands – adds Piechocki, who is the co-founder of LPP.
In the past three years, the company has focused primarily on international expansion – it made its debut in three new regions – in Germany, the Middle East and the Balkans, but at the same time strengthened its position in Poland. Although the local clothing market seems to be heavily saturated, LPP ensures that its stores are opened both in the most prestigious shopping malls and in smaller centres, but also refreshes the appearance and increases the floor area of existing stores.
The first store of the Reserved brand, which remains the flagship brand of the Group, was founded in 1998 in Gdynia, and its floor area was smaller than the current rest and refreshment facilities of the largest stores in the LPP network. In 20 years, LPP has evolved from a small local company into one of the fastest growing international fashion companies. In 2002, it began to expand abroad and for 15 years it has been building its position in the global market – currently it has in total more than 600 stores in 17 countries. The whole sales network of LPP covers 855 thousand sqm., both located in shopping malls and streets most readily visited by customers. An important element of the company’s development strategy is to create flagship stores in the most prestigious locations – after Warsaw, Prague, Budapest and Riga, it is time for Western Europe. Already in September, we will open a flagship Reserved store in Munich, and next year we will be present in Berlin, and in 2018 – in London’s Oxford Street. We are confident that such investments are crucial for building recognition of our largest brand in Western Europe, so we are looking for new locations – also in Milan and Paris – says Marek Piechocki.
Tallinder, the youngest child of LPP, the premium brand targeted at demanding customers – residents of large cities, over 35 years of age who appreciate quality and timeless designs, and have bigger budgets than the customers of fast-fashion brands. Its first store was opened in February this year in Gdansk, followed by Gdynia, Bydgoszcz, Lublin, Katowice, Szczecin and Wroclaw. The thousandth store in Poland, which is symbolic for LPP, is at the same time the long-awaited, first store of the Tallinder brand in the capital city, located in a prestigious part of Arkadia Shopping Centre in Warsaw.
LPP SA, a company listed on the Warsaw Stock Exchange since 2001, is one of the fastest growing clothing companies in Central and Eastern Europe, and its revenue in 2015 exceeded PLN 5 billion. For over 20 years, the company has been operating in Poland and abroad, achieving success in the demanding fashion market. LPP SA manages 5 popular brands: Reserved, Cropp, House, Mohito and Sinsay, and in 2016 it has unveiled its first premium brand – Tallinder. The company has a network of more than 1,600 stores and creates jobs for 20 thousand people at its offices and sales structures in Poland, Europe, Asia and Africa. LPP is listed in WIG20 stock exchange index, which generates a significant part of the turnover on the WSE, and in the prestigious MSCI Poland index.
Contact for media:
Marta Chlewicka
LPP Spokesperson
e-mail: media@lpp.com
