In the first quarter of 2024, the turnover of the Polish fashion retailer LPP in Ukraine increased by 58.3%, compared to the same period in 2023, to ₴2B ($50M). The company’s brands include Reserved, Cropp, House, Mohito and Sinsay chains. However, the company ended the first quarter of the year with a loss of almost ₴249M compared to about ₴6.44M last year.
In the first quarter, the retailer opened 14 new Sinsay stores in Ukraine. Another six stores from this chain opened in April. Now the business has about 160 stores throughout Ukraine. In addition, on May 31 a Sinsay store will open in Lutsk, and on June 26, another in the city of Varash, in the Rivne region.
The Polish LPP Group has been operating in Ukraine since 2003 and has introduced all five brands to our market. Its portfolio includes 144 stores as of December 2023. Total revenue for 2023 increased by 100% to ₴7.7B.