Lovisa reports strong double-digit growth amid global expansion.
Lovisa, the global jewellery and accessories chain, achieved significant growth last year, with sales increasing by 17.1% to $698.7 million (629 million euros). This growth was driven by the company's expansion into seven new markets, including Ireland, China, Vietnam, Ecuador, Senegal, Guadeloupe, and Gabon.
Global footprint and financial performance
The expansion added 128 new stores, bringing Lovisa's total to 900 outlets worldwide. Notably, 18 of these new stores were opened in France. The company's net profit also saw a substantial increase of 20.9%, reaching $82.4 million (74.2 million euros).Ongoing growth strategy
CEO Victor Herrero emphasized the company's strong financial performance, highlighting that Lovisa is well-positioned to continue its expansion in both existing and new markets. Since the beginning of the year, Lovisa has opened eight additional stores, with sales up by 12.7% in the first eight weeks of the current financial year. This sustained growth underscores Lovisa's commitment to solidifying its presence in the global market.
29 AUGUST 2024,
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