85
Fashion Jobs
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
Published
Jun 17, 2022
Reading time
2 minutes
Download
Download the article
Print
Text size

Reserved owner LPP has good Q1, Polish giant reopens ops in Ukraine

Published
Jun 17, 2022

Major Polish fashion retailer LPP Group, which owns fashion brands Reserved and Sinsay among others, performed “well” in its February-April quarter, a notable result given its business is being “strongly influenced by the war on the eastern border”.


facebook.com/Reserved


Revenues in the period increased by over 67% year-on-year, exceeding PLN3 billion (€640m/£547m/$674m), excluding now-exited operations in Russia. As a result, the company now operates 1,760 stores in 25 markets.

​LPP said much of the high-sales gain was due to the growing popularity of the Sinsay brand in both physical and online channels.Total sales of its youngest brand increased by almost 63% year-on-year, responsible for almost 40% of group revenues. 

Net profit also came in at PLN268 million. However, gross margins fell to 53.3%, hit by the war in Ukraine, an unfavourable dollar exchange rate and the price reductions of LPP's goods originally intended for eastern markets.

And despite the suspension of online sales in Ukraine and Russia, the business recorded nearly PLN1 billion in e-commerce revenues and and saw good e-sales, with its online offer now available in 32 countries.

The good news is that after a periodic suspension of sales in Ukraine, LPP said it has now returned to “limited” business in the country, resuming e-commerce deliveries and store sales.

Meanwhile, LPP noted that leaving such an important market as Russia does not pose a threat to the company's development, while shifting the focus of activities towards Southern and Western Europe “is the right decision”. It said it saw a record increase in turnover in Europe of 98%.

And the company said it continued to  achieve higher sales results from abroad, accounting for 52% in the opening quarter.

LPP also said Q1 saw growing consumer interest in more expensive Premium collections in its Reserved brand, indicating a gradual return of customers to pre-pandemic shopping habits, according to VP Przemysław Lutkiewicz.

Copyright © 2024 FashionNetwork.com All rights reserved.