Young fashion brand Lipsy is to ramp up its retail expansion and product offer following its acquisition by retail giant Next for £17.4 million last week.
Lipsy will open six standalone stores in the next year and will add lingerie and a jersey collection to its offer.
Next chief executive Simon Wolfson said: “We are not using the Lipsy brand to enhance the Next brand, but it will give us exposure to the older teens and younger 20s customers who Next does not naturally talk to.”
Lipsy stressed that it remains committed to its wholesale customers and will be run as a separate business.
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