Lovisa reported a 12.9 per cent increase in revenue over the past seven weeks, as the company’s global network reached 956 stores.
“Investment has continued to be made into team structures and technology to support the growing global business and our focus on operational execution,” the statement explained.
“This combined with increased spend on our digital marketing and events execution, inflationary pressures and increased mix of stores in higher cost markets, has resulted in higher cost of doing business for the period.”
Outgoing CEO Victor Herrero said that with plans to open new stores in a 50th market, the company was well-positioned for the year ahead.
The US remains the company’s largest market with 209 stores, followed by Australia with 180. Lovisa also has a significant presence in France (88 stores) and South Africa (83 stores).
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