Reserved hailed the most important clothing brand in Poland
For the second time now, the Editorial Board of “Forbes” published a ranking of the Top 200 most valuable Polish brands. The top 20 included Reserved, which, together with House and Sinsay, landed a place on the podium in the list of clothing brands. The three brands of the Gdańsk-based company recorded spectacular increases in valuation in Poland.
The “Forbes” ranking was created by the Editors of the monthly together with Minds & Roses – a research company. The ranking was based on a consumer survey of 300 Polish brands and the most significant foreign competitors. Their value was calculated based on their position and sales achieved in the Polish market.
Reserved ranked 19th in the nationwide ranking, moving up as many as 14 positions year-on-year. The biggest jump up in the ranking, by 45 places, was recorded by House, which was ranked 39th, and Sinsay – the youngest brand in the company’s portfolio – was ranked 41st. Therefore, three LPP brands found themselves on the podium in the “clothing” category.
The total value of this year’s winners amounts to nearly PLN 57.6bn. The largest growth was recorded by clothing industry, up almost 56% year-on-year, gaining a total of PLN 2.0bn, of which over a half – PLN 1.3bn – was the value of three LPP brands: Reserved, House, and Sinsay. The House brand’s valuation of more than PLN 320m constitutes a rise by nearly 200%, a record result among the competing brands.
– The record valuation of House and the very high position of our flagship brands Reserved and Sinsay are the result of a long-term development strategy and the brands’ excellent adaptability in the face of new market conditions. Focusing our attention on the changing habits and expectations of our customers, dynamic development of the e-commerce area and creating collections in line with the latest fashion trends is reflected in the perception of our brands by consumers and the correspondingly high market valuation of LPP – emphasizes Przemysław Lutkiewicz, vice-president of the management board, LPP.
The recognition of the brands belonging to the Gdańsk company is the success of the design teams and marketing activity of each brand. The flagship Reserved department operates in Gdańsk, with the assistance of the Warsaw design office, and the teams create collections of women’s, men’s and children’s lines, including premium quality line, as well as Eco Aware collections now accounting for almost 40% of the brand’s offer.
Marketing activities have surely contributed to the perception of the brand. In recent months, cooperation with Monika Brodka brought Gold in the Advertising Creators Club Competition in the BEST OF META category (ads made via social media) and a Silver Sword in the CRAFT category, for a photo shoot by Bartek Wieczorek. Currently, a collection with vintage aesthetics references is being launched, realized in collaboration with Blanca Miro, a Spanish fashion curator.
The other LPP brands are developing just as rapidly. The House and Mohito teams are working in Cracow, while Cropp and Sinsay, the youngest and fastest growing brand in the company’s portfolio, are operating in Gdańsk. The diversity of the latter brand’s collections, aimed at families, women and men, complemented by the Home décor and Beauty lines introduced over a year ago, provides a wide range of products to customers, while guaranteeing easy and accessible shopping experience. Modern and rapidly developing e-commerce channels, including the Sinsay mobile app launched six months ago and already downloaded more than 2.5m times, account for over 30% of online orders.
– LPP has been shaping the Polish fashion market since the company’s inception. Both in the headquarters, in Gdańsk, and in the Cracow and Warsaw offices, there are teams of talented and creative specialists who design, order and provide marketing support for collections appreciated by customers. Product or visual communications departments of individual brands are practically the heart of LPP. They consist of people who have an impact on co-creating a friendly work environment. When it comes to the company’s standing, another significant aspect is the culture of our organization strengthened by employer branding activities. This is what influences the perception of the company as a place open to talented, diverse and passionate employees – from design specialists, graphic designers, technologists to promotion, merchandising and marketing professionals – points out Sławomir Ronkowski, director of internal communications and CSR at LPP.
Today, LPP operates in nearly 40 countries and has a network of over 1,700 stores. In the second quarter of 2022/23, the company’s revenues increased by over 45% year-on-year, exceeding PLN 4.3bn. The past quarter brought the Gdańsk-based company more than PLN 1.2bn in e-commerce revenue and a high online sales growth rate of 54% year-on-year. Worldwide, LPP employs over 24,000 people, including more than 15,000 in Poland. A total of over 1,100 people oversee the process of creating fashion collections for the five brands in the company’s portfolio. The company’s growth, including expansion into further foreign markets, has been a driver to plan further expansion of its departments and search for employees with various competencies, including in areas not directly related to fashion.
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LPP is a Polish family business and one of the fastest growing clothing companies in the region of Central and Eastern Europe. For 30 years, it has been successfully operating in Poland and abroad, offering its collections in such prestigious capitals as London, Helsinki or Tel Aviv. LPP SA manages five fashion brands: Reserved, Cropp, House, Mohito, and Sinsay, whose offer is available today in stationary and online stores in nearly 40 markets worldwide. The company has a chain of over 1700 stores with the total area of 1.4 million m2 and distributes clothing and accessories to 3 continents every year. LPP also plays an important role as it employs over 24 thousand people in its offices and sales structures in Poland, Europe, Asia, and Africa. The company is listed on the Warsaw Stock Exchange in the WIG20 index and belongs to the prestigious MSCI Poland index.