Lovisa continues to grow. In the first half of the fiscal year of 2023, the period ended on January 1, 2023, the Australian jewelry chain has increased its sales by 44.8%, up to 315.5 million Australian dollars (201.1 million euros). . In addition, the company has registered an increase in profit of 31.9% with 41.1 million Australian dollars (26.2 million euros).
The Australian company, which ended the first six months of the fiscal year with 103 of its own points of sale and 42 franchises, has carried out 86 openings in the period. Of the new openings, 27 establishments have been in Europe41 in the American continent, twelve in Australia, eleven in Asia and ten in Africa.
In addition, the jewelry company has opened its first points of sale in Hong Kong, Namibia, Mexico, Hungary, Romania and Italy.in addition to landing in Colombia with its first franchise.
The Australian company has highlighted the return to complete normality following the restrictions of the pandemic of previous years, however, it has not made any predictions for the future and maintains that “there are still threats such as inflationary pressures and interest rate hikes, especially in Australia.”
Lovisa has registered a growth of 32.9% of its sales from the European market
By markets, the jewelry company continues to record most of its sales in Australia and New Zealand, which have meant 113.9 million Australian dollars (72.6 million euros) in the first half of the fiscal year. The company’s second largest market is Europe, followed by the Americas, Africa and Asia, respectively.
Lovisa has registered an increase in sales in the international market of 49.7% with total sales of 314.59 million Australian dollars (200.57 million euros) compared to the 216,724 million dollars of the previous year (138.175 million euros).
Since December 2021, the Australian company has been led by the Spanish Víctor Herrero, a Spanish executive who held the same position at Clarks, until December of the same year. This position became vacant in October of the same year when Shane Fallscheer, who had led the company for twelve years, left his position.
Herrero has extensive experience in retail. Between 2015 and 2019, he led Guess, following spending twelve years in charge of the Inditex business in Asia Pacific. The executive is part of the administrative council of G-III, Global Fashion Group and Bossini, in addition to Clarks.
In addition, a few months ago the Australian company signed the former Inditex Javier Eguirón as the new commercial director. During his stage in the Galician company, the manager was, between 2015 and 2019, Head of the Zara business in Belgium and Luxembourgand between 2019 and 2021 he was in charge of the financial department of Stradivarius.
