Reserved shop opened in Cairo

Polish retailing company LPP opened a clothes shop of its Reserved brand in Egypt and is going to open more shops in the Middle East in the next five years, according to the press release. The shop in Cairo is located in Festival City Mall shopping center. "Today’s opening is a symbolic moment for us. We are taking the first step in a completely new direction ... Soon, our products will be available in other countries in the Middle East," the firm’s deputy CEO Hubert Komorowski said. Due to economic-political factors, LPP’s shops in the Middle East will be operating as franchises, the company informed. LPP is planning to open at least eight Reserved shops in Egypt, Qatar, Kuwait and Saudi Arabia through 2015 and another few dozen in the next five years. WSE-listed LPP has been managing five fashion brands. Its revenue totaled PLN 4.7 million in 2014.