Lush invests €8.9 million in store network
Lush has reaffirmed its confidence in brick-and-mortar retail. In order to expand its network of shops in the UK, Ireland and more generally in Europe, the British beauty retailer has announced it will inject a GBP7.6 million investment, equivalent to nearly €8.9 million, into its physical stores over the next 12 months.
In the UK, Lush is set to occupy some premium shopping locations, and will open a new store in the heart of Glasgow, Scotland, next year. Located at 98 Buchanan Street, the 1,900 m2 premises will allow Lush, renowned for its ultra-fresh cosmetics, to showcase its product range and services on four levels.
Between January and June 2023, Lush is planning to deploy nine new stores in the British Isles, including those in Dundrum in Ireland and Victoria Station in London.
“It isn't simply a matter of adding new stores to ensure growth, but to significantly increase store size in order to be able to accommodate new concepts, while remaining highly committed to physical retail, and reacting quickly when the most exciting opportunities arise,” said Lush in a press release.
Elsewhere in Europe, Lush’s investments are mainly focused on store renovation and relocation. Over the aforementioned period, 23 new projects have been completed or are being carried out in Germany, Spain, Hungary and the Czech Republic.
In France, Lush’s sixth-largest market with 39 stores, the shops in Vélizy 2, Paris-Leclerc, Boulogne-Billancourt, Avignon, Orléans, Le Mans and Clermont-Ferrand have been revamped by adopting the brand’s new retail concept, while the Lyon République store has moved in order to triple its retail area.
In 2020, the last year for which results were published, Lush generated a revenue of €517 million.
Copyright © 2023 FashionNetwork.com All rights reserved.