Lovisa has reported a 16.2% growth in global store sales for the first 19 weeks of FY23, with plans to enter new markets ahead of Christmas.
The jewellery brand is currently trading over 100 more stores in five additional markets compared to the same period in FY22. Lovisa will open in Italy, Mexico and Hungary in the coming weeks.
Lovisa currently operates 676 stores across 26 countries, including four new markets opened in recent months with Canada and Poland opened at the end of FY22. Since then, it has established its first stores in Namibia and Hong Kong.
Lovisa has opened 47 net new stores for the year to date, including 61 new stores opened and 14 closures.
Total sales for the the first 19 weeks of FY23 were up 60% on FY22.
Comparable store sales continue to be measured based on stores open and able to trade, with exclusions on stores temporarily closed due to government-imposed lockdowns in either year.
Lovisa was founded by MD Shane Fallscheer and BB Retail Capital. It opened its first store in Chermside, Queensland in April 2010 and soon after began its international expansion.