Lovisa appoints agent as it looks to double UK presence
Lovisa has appointed Savills as adviser as it looks to double the size of its UK store estate.
The jewellery and accessories retailer is targeting 50 additional stores nationwide, adding to its international portfolio of over 650 stores across 20 countries.
Lovisa is targeting stores between 500 and 1,200 sq ft in size, with a preferred minimum internal width of 5 metres (16.4 feet).
The retailer is seeking units on prime high streets, within shopping centres and transport hubs, and in prime trading locations. Savills has been instructed to find suitable properties within all parts of England including London, as well as Scotland and the Republic of Ireland.
Lovisa recorded a revenue of £165m during the first half of the 2023 financial year, a 50% year-on-year increase, while its net profit before tax was £34m.