Lovisa (company)

Last updated
Lovisa Holdings Limited
Type Public
ASX:  LOV
IndustryRetail
FoundedApril 2010 [1]
Headquarters
Sydney, New South Wales
,
Australia
Number of locations
801 (July 2023) [2]
Key people
ProductsJewellery
Website lovisa.com.au

Lovisa Holdings Limited is an Australian jewellery chain founded in Sydney in April 2010. [3] [4] [5] [6] [7] [8] This fast fashion jewellery brand was launched by Australian billionaire Brett Blundy, the former chairman of BB Retail Capital (BBRC). As of July 2023, Lovisa has 801 stores across 39 countries [2] including Australia, New Zealand, Malaysia, Singapore, South Africa, Spain, France and the United States. Lovisa also has franchised stores in the Middle East and Vietnam. [9]

Contents

History

Shane Fallscheer, the managing director and executive director of Lovisa partnered with Brett Blundy's private investment company BBRC in 2010 to establish this fast-fashion specialty jewellery chain. [10] The brand concept for Lovisa was envisioned to be an extension of BBRC's existing jewellery brand, Diva. [10] [11]

In December 2014, Lovisa had its initial public offering on the Australian Securities Exchange. [12]

Due to "poor support from landlords" during the COVID-19 pandemic in Spain, Lovisa exited the country in the 2020 fiscal year. [13]

In November 2020, Lovisa announced its acquisition of part of the European retail store network of German jewellery wholesaler Beeline GmbH. The deal concerns 74 stores operating under the Six and I Am names in Germany, Switzerland, the Netherlands, Belgium, Austria and Luxembourg. The stores were rebranded as Lovisa. [14] [15] In December 2020, Lovisa acquired Beeline's 30 stores in France. [16]

Following an investigation by the Labour Inspectorate in New Zealand in 2021, Lovisa had to pay NZ$153,190 in wage arrears to employees. [17]

In January and July 2022, Lovisa employees in Belgium went on strike due to poor working conditions and pay. Employees in the Netherlands also took action in July 2022, handing out leaflets and informing customers about poor pay conditions. [18] [19]

In 2023, Lovisa opened a 5,000 m2 (54,000 sq ft) warehouse in Poland to replace its third-party logistics service providers in the European region. [2]

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References

  1. ↑ "About Us | Lovisa Jewellery Australia". Lovisa AU.
  2. 1 2 3 Pattabiraman, Rakshnna (2023-08-24). "Lovisa pushes ahead with global expansion as profits rise". Inside Retail Australia. Retrieved 2023-09-20.
  3. ↑ "Lovisa readies teams to enter six new markets - Ragtrader". www.ragtrader.com.au.
  4. ↑ Gangaram, Nikhil (February 19, 2021). "Lovisa (ASX: LOV) share price rockets 19% on half year results". The Motley Fool Australia.
  5. ↑ Roden, Arabella (October 12, 2020). "Lovisa plans European expansion after exiting Spanish market". jewellermagazine.com.
  6. ↑ "Aussie jeweller latest victim of euro covid wave". NewsComAu. November 2, 2020.
  7. ↑ "Company linked to Diva jewellery chain goes into liquidation". SmartCompany. January 12, 2015.
  8. ↑ "What's happening at Diva? Confusion over future of Australian fashion accessories chain". SmartCompany. May 27, 2014.
  9. ↑ "Investor Centre | Lovisa Jewellery Australia". Lovisa AU. Retrieved 2021-06-16.
  10. 1 2 "Lovisa". BBRC Worldwide. Retrieved 2021-06-16.
  11. ↑ "Shane Fallscheer Net Worth (2021) – wallmine.com". au.wallmine.com. Retrieved 2021-06-16.
  12. ↑ "Australian jeweler Lovisa has solid share market debut". Reuters. 2014-12-18. Retrieved 2023-09-14.
  13. ↑ Roden, Arabella (2020-02-09). "Lovisa profits fall more than 47 per cent; exits Spanish market". Jeweller Magazine. Retrieved 2023-09-20.
  14. ↑ Bailey, Imogen (2020-11-16). "Lovisa expands further across Europe for just 60 euros". Ragtrader. Retrieved 2022-09-16.
  15. ↑ Snoeck, Jorg (2020-11-13). "Beeline Group sells SIX and I Am stores to Lovisa". RetailDetail EU. Retrieved 2023-09-20.
  16. ↑ Martinez, Isa (2020-12-01). "Lovisa to acquire beeline's French operations for €10". S&P Global Market Intelligence. Retrieved 2023-09-20.
  17. ↑ Mcilraith, Brianna (2023-09-19). "Lovisa paid $153,000 in wage arrears to employees". Stuff. Retrieved 2023-09-20.
  18. ↑ Neerman, Pauline (2022-06-29). "International labour protest at jewellery chain Lovisa". RetailDetail EU. Retrieved 2023-09-20.
  19. ↑ Walker, Lauren (2022-06-30). "Employees of international jewellery store to strike over pay row". The Brussels Times. Retrieved 2023-09-20.
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