LPP to open 100 shops in 2006

Polish fashion giant LLP plans to open 100 shops under the banner of all of its brands, 30 percent of which will be a franchising scheme on new markets: Belarus and Kazakhstan. "On unstable markets, we base our on expansion on franchising, so that we don't have to risk our own funds. Next year, we want to earmark PLN 400 million on expansion, PLN 290 million of which will be channeled on new stores, which is a decrease of 26 percent y/y, due to the increased number of franchise schemes," said CFO Przemysław Lutkiewicz. Lutkiewicz also said that the company is eyeing the Balkans. LPP has currently 1,574 outlets. The company announced that its net profit amounted to PLN 79.72 million in Q3 2015, compared with PLN 81.73 million in Q3 2014.