Australian jewellery retailer Lovisa is optimistic about its UK prospects.

Lovisa opened its first store in Leeds at the end of November.

In an update to the market, the retailer revealed sales are already meeting expectations.

The company confirmed it is in the process of finalising two to three additional stores.

It has also appointed a UK leasing manager to explore opportunities after its pilot phase.

Lovisa CEO Shane Fallscheer said he was keen to expand into the northern hemisphere market at the company's AGM last year.

He said board members had agreed to run a pilot of three to five stores in the UK.

“We have been active in the market looking for the right opportunities,” he told shareholders at the meeting.

“Negotiations are well advanced to open another two to four stores in the UK by end Q3 FY16.”

Lovisa has more than 200 sites across Australia, New Zealand, Singapore, Malaysia, South Africa.

It also has franchises in Saudi Arabia, the UAE, Kuwait and Oman.

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