Australian value fashion accessories retailer Lovisa is plotting its first UK stores ahead of the peak Christmas trading period.
- Aims to open five stores before Christmas
- Eyeing large cities and towns
- Targest value conscious 25 to 45-year-olds and expected to compete with Claire’s Accessories
Lovisa, which listed on the Australian Stock Exchange in December and has 239 stores globally, aims to open five UK stores in time for peak trading, Retail Week has learned.
According to sources familiar with the situation, it is thought Lovisa is considering cities including Bath, Bristol, Glasgow, Cardiff and Manchester, as well as smaller towns, and is expected to compete with retailers including Claire’s Accessories.
Lovisa, which has stores in Australia, New Zealand, Singapore, Malaysia and South Africa as well as franchised stores in the Middle East, is eyeing both high street stores and shopping centres for its UK launch. It is not known what Lovisa’s long-term plans for the UK are.
A raft of Australian retailers are making a play for the UK market.
Retail Week revealed last month that fellow Australian stationery retailer Kikki.K is eyeing more than 100 UK stores and hopes to launch a flagship in London as early as October. Rival Smiggle opened its first UK stores in February 2014 and belives it could have up to 300 shops here.
On its website Lovisa says it “strives to be at the forefront of the fast fashion jewellery retail industry”. It identifies its target market as fashion conscious females aged 25 to 45.
Lovisa reported sales of AUS$134.3m (£62.5m) in its 2014/15 year and EBIT of $24.8m (£11.5m).
In its annual year report, released earlier this month, the retailer said it “believes there is potential for further international growth, with the opportunity to enter the major markets (e.g. UK, Europe and/or USA)”.
Lovisa could not be reached for comment.