LPP fashion plans to open around 450 Sinsay brand shops in H2 2024

Listed fashion group LPP plans to open around 450 Sinsay brand shops in the second half of the year, LPP deputy CEO Przemyslaw Lutkiewicz said. The group maintains that it will open 700 shops of all their brands, including 620 Sinsay shops, in the entire 2024 financial year.

"We would like to open 700 shops across all our brands this year, including 620 Sinsay brand shops," LPP's deputy CEO said during a conference call.

In the first half of the year, the group opened 166 Sinsay shops, compared to 119 a year earlier.

"Many more shops need to be opened in the second half of the year for us to meet our target," Lutkiewicz said.

Around 450 Sinsay-branded shops are planned for the second half of the year, he added.

"With the opening of around 140 shops in the third quarter, this means opening around 300 shops in the fourth quarter alone. These are our plans," he said.

"These locations are already contracted," he added.

Between May and the end of July, LPP opened 122 new shops, most of them under the Sinsay brand.

The deputy CEO said that 5 of the group's shops had been affected by flooding in Poland and the Czech Republic, but the shops were insured and the impact on the group would be ‘minimal’.

LPP manages 5 fashion brands: Reserved, Cropp, House, Mohito and Sinsay, whose offer is available for sale in stationary and online in 40 markets worldwide.

The company has a network of nearly 2,500 stores.

pel/ han/ nl/