Fallscheer has named himself a founder of Harli + Harpa on social media, with plans to open several stores before Christmas. He was CEO of Lovisa for 12 years, departing the role in October 2021.
The Sunshine Plaza website states that a store is ‘coming soon’ accompanied by the following brief: “Harli + Harpa is all about encouraging and igniting confidence with their fashion-forward long-lasting pieces. Stack it, layer it, mix it, wear their pieces on repeat. Think of them as your walk in jewellery box, with pieces for every occasion.”
MST Marquee analyst Craig Woolford told the Australian Financial Review that Fallscheer’s experience would be an advantage for the incoming fashion jewellery brand.
“Increasing competition will put downward pressure on the highly attractive margins. Global expansion is the key driver of growth for Lovisa, but the domestic market still matters,” he said.
“Competition hampers price increases and will likely result in a cap on store growth and gross margin improvement over time. Harli + Harpa will benefit from Fallscheer’s experience and is more likely to succeed as a result.”
In August, Lovisa reported a 17.1 per cent increase in revenue for the past year. It operates more than 900 stores globally, including 187 in Australia.
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