Australian-born low-price jeweller Harli + Harpa has just entered the United Kingdom after scaling the brand to just over 70 stores in under two years.
The new store is located at the Bullring in Birmingham, 150 kilometres northwest of London. The shopping mall houses over 120 stores. The Harli + Harpa store in the UK is also paired with a local dedicated website.
Altogether, Harli + Harpa has 71 stores and four websites – with other websites in New Zealand, South Africa and Australia. The majority of these stores are in Australia, each generally located in shopping malls.
“With the business only trading for 21 months and about to celebrate two years in November, our team was presented with a great opportunity to grow further and enter the UK market,” Harli + Harpa CEO Armando Pedruco said.
“We are excited with our first store in Bullring Birmingham, and even more excited by the opportunities ahead of us in the UK.”
Harli + Harpa was founded in 2024 by the former CEO and co-founder of Lovisa. The new retail brand sells a range of low-price jewellery and accessories, mostly ranging in the low double-digits – similar to Lovisa.
Brokers across the investment banking industry consider Harli + Harpa to be a competitor to Lovisa. Around three months ago, UBS called the growth of Harli + Harpa a headwind for Lovisa, but not enough to deter the bank from issuing a buy rating on Lovisa’s stock.
Since then, Lovisa’s share price has continued to waver between $20 and $25 per share. Currently, its share price sits at just above $20. That is down from its most recent high of $33 per share in February this year, and an all-time high of $43.14 on August 29 last year.