NATIONAL: Lovisa will unleash up to 100 stores throughout 2011 after a year which saw the brand implement what it calls one of the fastest retail rollouts in history.
The Melbourne-headquartered accessories label, which catapulted into the market in April 2010, has already established 41 stores across Australia and New Zealand. Lovisa general manager Tim Luce said there was no intention of slowing down the brand's rate of expansion.
“We will have close to 50 stores by the end of this year, and hope to grow this number to somewhere between 100 and 150 stores over the next 12 months,” Luce said. “It is our objective to be number one in market share in any location we operate in.”
Also earmarked though not confirmed for next year is the launch of the brand's online store.
“We are most certainly observing this space closely and will review it as a priority in early 2011.”
Lovisa is owned and operated by investment group BB Retail Capital, which also operates fast fashion accessories chain Diva. Global brand and marketing manger for Diva, Melanie Wilson, said Lovisa was created to cater to women who were still seeking on-trend, affordable accessories but that had outgrown Diva.
“Lovisa stores are located in the fashion precincts alongside Country Road, Witchery and Cue, whereas Diva is more likely to be found in the urban/young/fast fashion precincts,” Wilson said.
“While there may be some cannibalism, we believe that Lovisa is catering to a gap in the market and is catering to a market that is currently under-served. Further, Lovisa now offers Diva customers a place to shop once they feel they have moved on from Diva so as a [retail] group, we can retain these customers for many more years to come.”
Lovisa product retails from $5 to $50 and includes earrings, bangles, necklaces, rings and hair pieces, including racewear. The brand's design team is headed by Andrea Haynes, formerly of Prada, Mui Mui and Marc Jacobs, and Lovisa stores receive new stock drops daily.
BB Retail Capital was established in 1980 and is the parent company of multiple retail chains including Lovisa, Diva and Bras N Things.
Erin O'Loughlin