Australian fast-fashion retailer Lovisa, which specialises in cheap but on-trend jewellery, has 239 stores across Australia, New Zealand, South Africa, Singapore, Malaysia and the Middle East and another 62 are expected to open in those markets by 2018.
The company wants to open in one new territory every year. Hong Kong, Japan, the Philippines and Thailand are potential new markets.
Broker Bell Potter estimated total sales would grow to AUD180 million (USD128.1m) in 2018, up from AUD134 million in 2015, with underlying net profit after tax jumping AUD8.5 million to AUD24.8 million in the same period.
(Source: The Sydney Morning Herald Online )