Lovisa will continue its global store expansion throughout 2021, with its sights set on targeting one new trial territory per annum.
As one of its growth pillars identified in its annual report, opening stores is a key part of the business' strategy, with the retailer opening 47 new stores outside of Australia in 2020.
Alongside trialling new territories, Lovisa is set to continue rolling out stores across the USA, France and UK.
The new-store strategy is driven by strict requirements for stores and locations, allowing the business to rapidly open new sites.
A 50 square metre floor space and a homogenised layout allows Lovisa to roll-out stores quickly, at low cost, with it taking an average of 14 days to fit out a new store.
While its opening stores, the business is also closing under-performing stores and improving the customer experience in its existing ones.
To do this, the retailer is focusing on a combination of high-traffic locations and loyalty schemes.
In 2020, Lovisa rolled out its piercing services to stores, which according to the annual report, was focused "on enhancing customer loyalty."
At the end of 2020, Lovisa was operating 435 stores - including franchises - across 11 territories.