Fashion retailer LPP, the owner of six clothing brands – Reserved, Tallinder, Cropp, House, Mohito and Sinsay, has announced the liquidation of one of its brands.
“LPP decided to close its still nascent higher-end brand Tallinder due to its weak results and will book a PLN 26 million reserve in 2016 tied to the move,” the retailer informed in a market filing.
Tallinder is the youngest LPP premium brand targeted at demanding customers. Its first store was opened in February 2016 in Gdańsk, followed by Gdynia, Bydgoszcz, Lublin, Katowice, Szczecin and Wrocław.
The one thousandth store in Poland, which is symbolic for LPP, is at the same time the long-awaited, first store of the Tallinder brand in the capital city, located in a prestigious part of Arkadia Shopping Centre in Warsaw.
LPP is a Polish clothing retailer which has been listed on the Warsaw Stock Exchange since 2001.