Lovisa’s online sales jumped 400 per cent at the end of FY20
Beauty chain Lovisa has seen surging online demand during the last 24 weeks, with e-commerce sales up 400 per cent during the end of the financial year and continuing upward into FY21.
And moving forward the business expects to continue online as a strong focus, intending for e-commerce to become a meaningful part of the business, with digital store fronts now available in all 8 of its major markets around the world.
However, the business has suffered from the lack of physical store sales alongside its online boom.
“Global comparable store sales for the 16 weeks since the end of FY20 were -10.2 per cent, with a continuation of the improving trend seen in the first 8 weeks of the financial year of -19 per cent, which was itself an improvement on Q4 FY20 comparable store sales of -32.5 per cent,” the business said.
Most of its stores have been able to re-open, and while 30 Lovisa stores remain closed in Melbourne, Australia and New Zealand remain the business’ most profitable region – so much so that Lovisa is no longer eligible for the JobKeeper wage subsidy.
Looking forward, the business is planning to further bolster its physical presence across its eight markets.
“Our strategic plans remain in place, we are ready to continue our store roll out and we continue discussions with our landlords globally as we believe current circumstances will create further opportunities for expansion of our store network,” Lovisa said.
There are currently 449 Lovisa stores globally, with 14 opened since the end of FY20.