LPP plans PLN 1.5 bln CAPEX by 2020

WSE-listed fashion retailer LPP has sustained its CAPEX forecast at PLN 1.5 billion until 2020, the company’s Deputy President Przemysław Lutkiewicz told the ISBnews press agency. The funds will be spent on both new locations and refurbishing the existing ones. He also added that the company’s first UK store opened recently in London is already seeing first positive effects. ”Till now Western designers didn’t want to talk to us so much, but after opening our flagship store we have positive signals from them and from the operators of shopping centers,” Lutkiewicz explained. He added, that after opening its e-commerce center in Russia last month, LPP plans to launch similar facilities in other markets. ”We want to open one in the UK and one in Romania, which will support sales to countries located in southern Europe,” Lutkiewicz said, adding that most likely they’ll be managed by external operators. In October, the company said that by the end of 2020 the company plans to spend PLN 1.5 billion on LPP manages the fashion brands Reserved, Cropp, House, Mohito and SiNSAY. The company has been listed on the Warsaw Stock Exchange since 2001. Its 2016’ revenue amounted to PLN 6.02 billion.