The brand reported a 10 per cent increase in sales in the first 20 weeks of the financial year on a year-by-year comparison. This follows a $102 million spike in annual sales in the past financial year, an increase of 17.1 per cent.
According to the statement, the increase in sales can be attributed to the ongoing expansion of its global store count.
“We continue to maintain our ongoing focus on expanding our global store footprint across all markets in which we operate, with 27 net new stores opened for the financial year to date, including 40 new stores opened and 13 closures,” the statement reads.
“This has taken the store network to 927 stores across 49 markets, with three new franchise markets opened for the year to date in Ivory Coast, Republic of Congo and Panama. Compared to this time last year we are currently trading from 91 more stores in nine additional markets.”
Sales in the Australian market improved by 0.7 per cent for the past financial year. The fashion jewellery chain announced the appointment of John Cheston as CEO in June, replacing Victor Herrero, who has held the position since 2021.
More reading
Greater heights: Lovisa moving in a new direction
Familiar faces: Competition in fashion jewellery market heating up
Sales, store count spike for Australian fashion jewellery chain
Fashion Jewellery Chain Stores: Rapid rise and dramatic demise
Fashion jewellery: Out of the frying pan into the fire
Unlocking avenues amidst adversity
Lovisa: Strong sales as global expansion continues