LPP having success abroad

Polish clothing company LPP said on Tuesday that its total sales have increased by almost 11 percent, y/y, during the first three quarters of 2016. It reported that the highest growth came from sales in its shops in Russia, Ukraine, Bulgaria, Croatia and Romania. What’s more, the company, which manages franchises such as Tallinder and House, forecasts revenues of 11 percent in 2017. The company is counting on increased profits from the expansion of its Reserved franchise in Germany, which is a fairly new market for the apparel giant. The VP and CFO of LPP, Przemysław Lutkiewicz, said in a press release, “In the reporting period, for the first time in history, Reserved shops outside of Poland generated more revenue than the national outlets. We can see clearly that the positioning of our flagship brand as a global brand...directly translates into our business increasing in Germany, which is now our fifth-largest market in terms of revenue. We assume that in two or three years the greater part of our revenue will come from abroad.” Reserved opened its first store in Munich in September of this year.