LPP has opened the largest store of its flagship brand Reserved in Russia, signalling the company’s largest investment this year to date.
The new store based in the Galeria shopping centre, St. Petersburg, falls under the company’s plans to expand its network of stores in Russia by another 10% during 2016.
“Our presence in Russia is important for the development of LPP. Mainly due to such an extensive presence in the country and the income from the sales, we are one of the industry leaders in central and eastern Europe,” said Sławomir Łoboda, vice president of LPP, “The opening of such a large store in the best shopping centre "Galeria" in St. Petersburg is a signal that in 2016 we will strengthen our position in this market.”
LPP currently has 280 stores in Russia, which in 2015 recorded sales revenue in the amount of PLN836m – 16% of LPP Group total revenue. Clothing brands that belong to the Polish company are located in and other places. The company is a recognised clothing industry retailer in Russia, with presence in 42 Russian cities including Moscow, St. Petersburg, Novosibirsk, Yekaterinburg, Krasnodar along with shops in large shopping centres, such as Mega, Filion, Golden Babylon, Kolumbus and Vegas in the capital city.
LPP Group began its operation in Russia in 2002, and over the past four years the surface area of the stores of LPP brands has quadrupled. Five LPP brands are present in the Russian market, including the flagship Reserved brand and the remaining portfolio members: Cropp, House, Sinsay and Mohito. It is possible that in the near future the group will be joined by the debut premium brand - Tallinder.
“Due to the fact that Russian consumers increasingly often prefer spending time and doing their shopping at malls, street retail in cities has become less attractive from a business perspective. We want to be where our collections are selling best. A good example is Galeria in St. Petersburg, where our Cropp store records high sales and where the country's largest Reserved shop has been just opened, as well as several other shopping centres we are present in,” explained Anna Pilugina, LPP group director in Russia.
