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LPP lays out sales target for Reserved’s London flagship store

By Vivian Hendriksz

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Business

LPP, the parent company of Polish fast-fashion label Reserved has laid out an ambitious sales target for its UK flagship store. The company aims to generate PLN 100 million (21.2 million pounds) in sales over the next five years from its Reserved Oxford Street store, as the fast-fashion retailer continues to expand across Europe.

The debut Reserved flagship store previously opened its doors in on September 6, marking the brand’s entry into the market. LPP also launched a local UK website for Reserved during the same period. Since the flagship store’s opening, the brand has attracted a steady number of visitors. In order to better serve its UK customer, LPP also shared plans to establish a new commerce logistic centre in the UK, in addition to one in South-East Europe. At the moment all UK orders are fulfilled by LPP commerce centre in Stryków, Poland, which was set up together with German service company Arvato earlier this month.

LPP aim to grow in the UK comes as the company prepares to invest close to PLN 200 million (42.4 million pounds) in its research and development sectors in 2018 to strengthen the company’s presence in its 20 global markets. “By the end of 2018 we want over 2 thousand people working with us on various research or development projects,” said Marek Piechocki, founder and owner of LPP. “It is the creative force that constantly drives the development of LPP and our flagship brand Reserved, and also the entire Polish economy. These people, here in Gdańsk, Kraków and Warsaw, create value that we can offer customers not only in Poland but also in other markets.”

Photos: courtesy of LPP
LPP
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