The Polish fashion retailer LPP Group, managing the brands Reserved, Cropp, House, Mohito, Sinsay, in July-September 2019 increased sales in Ukraine by 39.2% compared to the same period in 2018, to PLN 127.6 million (about $33 million). According to the company’s financial report, LPP’s total revenue from sales in the third quarter grew by 14.9%, exceeding PLN 2.3 billion (about $605.6 million). At the same time, one of the highest sales growth dynamics was recorded in Ukraine.
In general, over the nine months, LPP increased sales in Ukraine by 33.1%, to PLN 321.8 million (about $83 million), while sales of the entire group grew by 12.6%, to PLN 6.389 billion ($1.65 billion).
In addition, it is reported that in September the retailer opened an online store of its own brands in Ukraine, which became the 13th e-commerce market for LPP Group.
“Adapting to the prevailing trend associated with the increasing popularity of online shopping, we are taking steps to further develop this sales channel. We implement this development through our own online stores. This gives us direct access to clients, control over goods and the absence of intermediaries. In the second half of 2019, the group launched an online store for all EU countries and for Ukraine,” the report said.
LPP S.A. was established in 1995. The first store (Reserved) was opened in 2000.