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Reserves takes GBP 10 mln from London store

Opr./edited AC 03 January 2019
Reserves takes GBP 10 mln from London store
Reserved has a prime location on London's Oxford Street
UNITED KINGDOM Revenues of over GBP 10 mln have been recorded in the Reserved store on London’s Oxford Street for the first year of its operations during which time 700,000 articles of clothing were sold

“The results of the first year after the opening of the store in London were on target. There is a lot of competition in places like Oxford Street and it is hard to achieve spectacular results right away. We certainly wanted the Reserved brand to be noticed and that is what we have definitely achieved. Last year's debut was a breakthrough and we have started to look more boldly for other locations for our stores,” says Przemysław Lutkiewicz, a deputy CEO of LPP. Reserved opened in the UK in the autumn of 2017 together with its online store. “With our presence on Oxford Street, we have come to know what international customers prefer. Our online sales were also an important source of information about our customers over this year. What we saw was a greater interest in our premium lines and our capsule collections compared to other markets,” adds Przemysław Lutkiewicz. Reserved is present in 23 countries and this year will enter Bosnia and Herzegovina and Finland. Also this year, LPP intends to make its online store available throughout the EU.

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