LPP (company)

{{Short description|Polish apparel retailer}}{{multiple issues|{{cleanup press release|date=October 2023}}{{cherry-picked|date=April 2024}}}}{{Infobox company | name = LPP Spółka Akcyjna | logo = frameless|class=skin-invert | image = | image_caption = | trade_name = LPP | type = Spółka Akcyjna | traded_as = {{Unbulleted list|{{WSE|LPP}}|WIG30 component}} | ISIN = {{ISIN|sl=n|pl=y|PLLPP0000011}} | genre =  | fate = | predecessor = | successor = | foundation = Gdańsk, Poland ({{Start date and age|df=yes|1991}}) | founder = | defunct =  | location_city = Gdańsk | location_country = Poland | locations = 2,847 (2025)<ref>{{Cite web |url= https://wwwlpp62711ea95a.blob.core.windows.net/blobwwwlpp62711ea95a/wp-content/uploads/2025/04/LPP-2024-prezentacja.pdf |title=Prezentacja wyników za 202 |website=lpp.com |access-date=3 April 2025}}</ref> | area_served = Europe, Asia, Africa, Middle East | key_people = Marek Piechocki Jerzy Lubianiec | products = Clothing, Footwear, Accessories, Home accessories | production = | services = | revenue = $4.58 billion (2025) | operating_income = $610 million (2025) | net_income = $510 million (2025) | assets = | owner = | num_employees = 30,000 | parent = | divisions = | subsid = Reserved House Cropp Mohito Sinsay | homepage = {{URL|www.lpp.com}} | footnotes = | intl = | bodystyle = }}thumb|Map of LPP stores locations around the world. '''LPP S.A'''. is a Polish multinational fashion group headquartered in Gdańsk, Poland. The company specializes in the distribution of clothing, footwear, accessories, as well as home and pet products, offered under its own brands through an extensive network of brick-and-mortar stores and e-commerce channels. LPP owns five distinct fashion brands: Reserved, House, Cropp, Mohito, and Sinsay, each catering to different customer segments and style preferences. LPP currently operates on 41 global markets,<ref>{{Cite web |access-date=9 April 2025 |title=About Us |url=https://www.lpp.com/en/about-us/ |website=LPP. About Us.}}</ref> continually expanding its international footprint and digital reach, and currently employs nearly 30,000<ref>{{Cite web |date=2023-05-21 |title=Ludzie |url=https://www.lpp.com/zrownowazony-rozwoj/ludzie/ |access-date=2023-12-03 |website=Oficjalna strona LPP SA |language=pl-PL}}</ref> people in its offices, distribution network and stores in Europe, Asia, Middle East and Africa.<ref name=":0">{{Cite web |title=LPP Raport Zintegrowany 2020 – Online – PL (lppsa.com) (str. 10) |url=https://www.lpp.com/wp-content/uploads/2018/02/LPP-Raport-Zintegrowany-2020-Online-PL.pdf |website=www.lppsa.com}}</ref><ref name="LPP to polska firma odzieżowa">{{Cite web |title=LPP to polska firma odzieżowa |date=17 March 2023 |url=https://www.lpp.com/o-nas/lpp-to-polska-firma-odziezowa}}</ref><ref name="lpp.com">{{Cite web |title=Annual Report - The official website of LPP SA |url=https://www.lpp.com/en/sustainable-development/annual-report |access-date=2022-12-08 |website=www.lpp.com}}</ref><ref>{{Cite web |title=People - The official website of LPP SA |url=https://www.lpp.com/en/sustainable-development/people |access-date=2022-12-08 |website=www.lpp.com}}</ref> In 2022, the company generated almost PLN 16 billion<ref>{{Cite web |date=2023-04-27 |title=LPP summarises financial results for 2022/2023 |url=https://www.lpp.com/en/press-releases/lpp-summarises-financial-results-for-2022-2023/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref> in revenue and over PLN 1 billion<ref name="Sustainability report">{{Cite web |date=2023-03-23 |title=Sustainability report |url=https://www.lpp.com/en/sustainable-development/sustainability-report/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref> in profits.<ref>{{Cite web |title=LPP Group Integrated Report for 2020-21-1 |url=https://www.lpp.com/wp-content/uploads/2021/05/LPP-Group-Integrated-Report-for-2020-21-1.pdf}}</ref><ref>{{Cite web |title=Periodic reports - Consolidated annual report of LPP SA Capital Group for 2020/21 - The official website of LPP SA |url=https://www.lpp.com/en/investor-relations/reports/periodic-reports/consolidated-annual-report-of-lpp-sa-capital-group-for-2020-21 |access-date=2022-12-08 |website=www.lpp.com|date=28 April 2021 }}</ref><ref name="ReferenceA">{{Cite web |title=LPP Company's website {{!}} Summary of LPP's financial results for 2021/22 |url=https://www.lpp.com/en/informacje-prasowe/summary-of-lpps-financial-results-for-2021-22 |access-date=2022-12-08 |website=www.lpp.com|date=21 April 2022 }}</ref> LPP SA is listed on the Warsaw Stock Exchange<ref name=":1">{{Cite web |last=Pałka |first=oprac Łukasz |date=2017-09-06 |title=LPP ma pierwszy salon Reserved w Londynie. Spółka zainwestowała 20 mln zł |url=https://www.money.pl/gielda/wiadomosci/artykul/lpp-salon-reserved-londyn,255,0,2362367.html |access-date=2020-02-03 |website=www.money.pl |language=pl-PL}}</ref> as a part of the WIG30 index<ref name=":3">{{Cite web|url=https://www.bankier.pl/inwestowanie/profile/quote.html?symbol=LPP|title=LPP SA (LPP) - Notowania GPW - Giełda - Bankier.pl - 1|website=Bankier.pl|language=pl|access-date=2020-02-05}}</ref><ref>{{Cite web |title=Oficjalna strona LPP SA {{!}} Rekordowe zyski i ponad 8 mld przychodu LPP w 2018 roku |url=https://www.lpp.com/informacje-prasowe/rekordowe-zyski-i-ponad-8-mld-przychodu-lpp-w-2018-roku |access-date=2020-02-05 |website=www.lppsa.com|date=11 April 2019 }}</ref><ref>{{Cite web|url=https://www.bankier.pl/wiadomosc/Koniec-serii-WIG20-Slabosc-Orlenu-moc-LPP-7737254.html|title=Koniec serii WIG20. Słabość Orlenu, moc LPP|last=Torchała|first=Adam|website=Bankier.pl|date=12 September 2019 |language=pl|access-date=2020-02-05}}</ref> and belongs to the MSCI Poland index.<ref name=":4">{{Cite web|url=https://www.msci.com/documents/10199/202e8e97-6662-4501-b5db-448f8f759768|title=MSCI Poland IMI|last=|first=|date=|website=|archive-url=|archive-date=|access-date=}}</ref>

== History == [[File:Gdansk LPP 3.jpg|thumb|255x255px|Company headquarter, Gdansk, Poland.]]

=== 1991–2000 === In 1991, Marek Piechocki and Jerzy Lubianiec, the founders of the company, started their business activities in the clothing industry in Gdańsk. After four years, the company initially operating under the name of PH Mistral s.c. was transformed into LPP (abbreviation of the surnames of its founders - Lubianiec, Piechocki and Partners). In 1997, the office in Shanghai was officially opened. In the late 1990s, the owners of LPP decided to create their first brand - Reserved - and build their own retail network. The first store of the brand was opened in 1998.<ref name=":5">{{Cite web|url=https://finanse.wp.pl/lpp-6166085269121153c|title=LPP|last=Dąbrowska|first=Justyna|date=2017-09-16|website=finanse.wp.pl|language=pl|access-date=2020-02-05}}</ref><ref name=":6">{{Cite web |title=Historia LPP - Oficjalna strona LPP SA |url=https://www.lpp.com/o-nas/historia-lpp |access-date=2020-02-05 |website=www.lppsa.com}}</ref>

=== 2001–2013 === In 2001, LPP made its début on the Warsaw Stock Exchange.<ref name=":1" /><ref>{{Cite web|url=https://www.gpw.pl/spolka?isin=PLLPP0000011|title=Główny Rynek GPW - Karta spółki|website=www.gpw.pl|access-date=2020-02-05}}</ref> The next two years saw the expansion of Reserved brand to the markets of Central and Eastern Europe.<ref>{{Cite web |url=https://biznes.trojmiasto.pl/Marka-stworzona-od-podstaw-n37601.html |language=pl |title=Marka stworzona od podstaw |website=biznes.trojmiasto.pl |date=24 March 2010 |access-date=13 June 2023}}</ref> In 2002, the company stores were opened in Russia, Estonia, the Czech Republic, Latvia, and Hungary, and in 2003 in Lithuania, Ukraine and Slovakia. The company expanded its portfolio and opened a Cropp store in Poland in 2004.<ref>{{Cite web |url=https://www.dlahandlu.pl/detal-hurt/wiadomosci/cropp-zmienia-oblicze-nowy-koncept-w-poznanskiej-avenidzie-galeria,99219.html |language=pl |title=Cropp zmienia oblicze - nowy koncept w poznańskiej Avenidzie (galeria) |website=dlahandlu.pl |date=8 June 2021 |access-date=13 June 2023}}</ref> In the following years the brand was launched in Estonia, Slovakia, and Latvia (2005) as well as in Lithuania, Russia, and the Czech Republic (2006). The years 2007 - 2008 were the period of development of activity on the Romanian and Bulgarian markets.<ref>{{Cite web |url=https://www.lpp.com/en/about-us/lpp-history |title=History |website=lpp.com |date=27 March 2023 |access-date=13 June 2023}}</ref> In 2008, LPP opened its Distribution Centre in Pruszcz Gdański.<ref>{{Cite web |url=https://eurobuildcee.com/en/news/29526-lpp-expands-in-pruszcz-gdanski |title=LPP expands in Pruszcz Gdański |website=eurobuildcee.com |date=3 March 2020 |access-date=13 June 2023}}</ref> In the same year, LPP took over a Cracow-based company - Artman - owner of House and Mohito brands. Owing to this transaction, LPP became the largest clothing company in Poland and the owner of four brands.<ref>{{Cite web |title=LPP Spółka Akcyjna |url=https://podmioty.pl/company/0000000778 |access-date=2024-05-21 |website=podmioty.pl}}</ref> In 2013,<ref>{{Cite web |title=Historia LPP - Oficjalna strona LPP SA |date=27 March 2023 |url=https://www.lpp.com/o-nas/historia-lpp }}</ref> the company's portfolio was expanded by Sinsay brand.<ref name=":5" />

=== 2014–2019 === In 2014, the company was included in the WIG20 index, and the flagship brand - Reserved - appeared on the German market.<ref name="ReferenceA"/><ref>{{Cite web |title=LPP History - The official website of LPP SA |url=https://www.lpp.com/en/about-us/lpp-history |access-date=2022-12-08 |website=www.lpp.com}}</ref> In the same year, all LPP products made their debut in Croatia. In the following year, the company expanded into the Middle East.<ref name=":6" /> At the end of 2017, the LPP sales network comprised more than 1,700 stores with a total area of 1 million square metres.<ref>{{Cite web|url=https://www.stockwatch.pl/wiadomosci/grupa-lpp-ma-juz-milion-metrow-kwadratowych-powierzchni-sklepow,akcje,207693|title=Grupa LPP ma już milion metrów kwadratowych powierzchni sklepów|date=2018-01-03|website=StockWatch.pl - giełda od fundamentów - wiadomości|access-date=2020-02-05}}</ref><ref>{{Cite web|url=https://www.money.pl/gospodarka/wiadomosci/artykul/wegrzy-i-rumuni-oszaleli-na-punkcie-reserved,191,0,2400703.html|title=Węgrzy i Rumuni oszaleli na punkcie Reserved. Mniej sklepów w Polsce|last=Frączyk|first=Jacek|date=2018-03-14|website=www.money.pl|language=pl-PL|access-date=2020-02-05}}</ref> In 2017, the LPP product office was opened in Warsaw, and Reserved, Cropp and House brands made their débuts in Belarus and Serbia.<ref name=":6" /> In 2017 LPP opened a Reserved store on Oxford Street in London.<ref>{{Cite web|url=https://www.money.pl/gielda/wiadomosci/artykul/lpp-salon-reserved-londyn,255,0,2362367.html|title=LPP ma pierwszy salon Reserved w Londynie. Spółka zainwestowała 20 mln zł|last=Pałka|first=oprac Łukasz|date=2017-09-06|website=www.money.pl|language=pl-PL|access-date=2020-02-05}}</ref> 2018 saw further debuts of LPP stores on new markets, including in Israel, Kazakhstan, and Slovenia.<ref>{{Cite web|url=http://wgospodarce.pl/informacje/56565-przyszlosc-lpp-zwiazana-z-rynkami-zagranicznymi|title=Przyszłość LPP związana z rynkami zagranicznymi|website=wgospodarce.pl|language=pl|access-date=2020-02-05}}</ref><ref>{{Cite web|url=https://www.rp.pl/Handel/311059941-LPP-zaczelo-dzialalnosc-w-Kazachstanie.html|title=LPP zaczęło działalność w Kazachstanie|website=www.rp.pl|language=pl|access-date=2020-02-05}}</ref><ref>{{Cite web|url=https://www.rp.pl/Handel/308169886-LPP-weszlo-do-Izraela--z-marka-Reserved.html|title=LPP weszło do Izraela z marką Reserved|website=www.rp.pl|language=pl|access-date=2020-02-05}}</ref> In 2019 the Company opened first stores in Bosnia and Herzegovina<ref>{{Cite web|url=https://www.propertynews.pl/centra-handlowe/lpp-rusza-na-podboj-nowych-rynkow,72789.html|title=LPP rusza na podbój nowych rynków|last=PTWP|website=www.propertynews.pl|date=26 April 2019 |language=pl|access-date=2020-02-05}}</ref><ref>{{Cite web|url=https://www.dlahandlu.pl/nonfood/lpp-otworzyl-w-bosni-salony-pieciu-swoich-marek,78954.html|title=LPP otworzył w Bośni salony pięciu swoich marek|website=www.dlahandlu.pl|date=26 April 2019 |language=pl|access-date=2020-02-05}}</ref> and Finland.<ref name=":2">{{Cite web |last=Słomski |first=oprac Damian |date=2019-10-17 |title=LPP debiutuje w Finlandii. Otwiera salony wszystkich pięciu marek |url=https://www.money.pl/gielda/lpp-debiutuje-w-finlandii-otwiera-salony-wszystkich-pieciu-marek-6436074226739329a.html |access-date=2020-02-03 |website=www.money.pl |language=pl-PL}}</ref>

=== Since 2020 === In 2020, the company underwent an accelerated digital transformation in response to the restrictions on stationary trade caused by the COVID-19 pandemic, thereby transforming itself into an omnichannel organisation.<ref>{{Cite web |title=LPP Company's website {{!}} The new reality as an innovation driver for LPP How a Polish clothing manufacturer changed its 3-year omnichannel plans in 3 weeks. |url=https://www.lpp.com/en/informacje-prasowe/the-new-reality-as-an-innovation-driver-for-lpp-how-a-polish-clothing-manufacturer-changed-its-3-year-omnichannel-plans-in-3-weeks |access-date=2022-12-08 |website=www.lpp.com|date=29 October 2020 }}</ref> The distinction between online and stationary sales was removed, and both channels have been treated as a customer-centric whole.<ref>{{Cite web |title=Jesteśmy firmą w pełni omnichannelową |url=https://www.rp.pl/europejski-kongres-gospodarczy/art36169051-jestesmy-firma-w-pelni-omnichannelowa |access-date=2022-12-08 |website=Rzeczpospolita |language=pl |archive-date=2023-01-03 |archive-url=https://web.archive.org/web/20230103181503/https://www.rp.pl/europejski-kongres-gospodarczy/art36169051-jestesmy-firma-w-pelni-omnichannelowa |url-status=dead }}</ref> A year later, with the stabilisation of the market, LPP returned to its policy of foreign expansion and, strengthening its position in South-Eastern Europe, opened the first stores of all its brands in North Macedonia.<ref>{{Cite web |title=LPP Company's website {{!}} LPP debuts in North Macedonia. The Polish clothing manufacturer's stores are already available on 26 markets. |url=https://www.lpp.com/en/informacje-prasowe/lpp-debuts-in-north-macedonia-the-polish-clothing-manufacturers-stores-are-already-available-on-26-markets |access-date=2022-12-08 |website=www.lpp.com|date=23 September 2021 }}</ref> Two years later, following the Russian aggression against Ukraine, LPP took the key decision to cease operations in Russia altogether and sell the subsidiary to a Chinese consortium.<ref>{{Cite web |title=Current reports - CR 19/2022 Notice of the Management Board of LPP SA on the decision to close business operations in Russia - The official website of LPP SA |url=https://www.lpp.com/en/investor-relations/reports/current-reports/cr-19-2022-notice-of-the-management-board-of-lpp-sa-on-the-decision-to-close-business-operations-in-russia |access-date=2022-12-08 |website=www.lpp.com|date=19 May 2022 }}</ref> As a result of the loss of its second-largest market, the company adopted a new development strategy, which involves further expansion in the central, southern and western parts of Europe and increased sales volumes in the e-commerce channel.<ref>{{Cite web |title=LPP Company's website {{!}} New directions for the LPP business strategy. In 2023 the company will debut in three new markets |url=https://www.lpp.com/en/informacje-prasowe/new-directions-for-the-lpp-business-strategy-in-2023-the-company-will-debut-in-three-new-markets |access-date=2022-12-08 |website=www.lpp.com|date=11 April 2022 }}</ref> In 2022, LPP opened Sinsay stationary stores in Italy, and with the beginning of the following year – in Greece.<ref>{{Cite web |date=2023-01-31 |title=Sinsay brand with first stores in Italy and Greece. LPP Group's offer positively received by customers in Southeast Europe |url=https://www.lpp.com/en/press-releases/sinsay-brand-with-first-stores-in-italy-and-greece-lpp-groups-offer-positively-received-by-customers-in-southeast-europe/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref><ref>{{Cite web |title=Sinsay otwiera pierwsze salony we Włoszech i w Grecji |url=https://www.wnp.pl/przemysl-odziezowy/sinsay-otwiera-pierwsze-salony-we-wloszech-i-w-grecji,672196.html |access-date=2023-12-03 |website=wnp.pl |language=pl}}</ref>

In the fall of 2023, Reserved debuted in Milan,<ref>{{Cite web |date=2023-09-18 |title=LPP strengthens its position in Western Europe. Reserved makes its debut in Milan |url=https://www.lpp.com/en/press-releases/lpp-strengthens-its-position-in-western-europe-reserved-makes-its-debut-in-milan/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref> and also expanded brand’s retail network in the UK,<ref>{{Cite web |date=2023-08-29 |title=LPP opens more Reserved stores in the UK |url=https://www.lpp.com/en/press-releases/lpp-opens-more-reserved-stores-in-the-uk/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref> opening four new stationary stores in London.<ref>{{Cite web |last=Weston |first=Sabina |date=2023-08-29 |title=First look: Poland's Reserved opens in Westfield Stratford |url=https://www.drapersonline.com/news/first-look-polands-reserved-opens-in-westfield-stratford |access-date=2023-12-03 |website=Drapers |language=en}}</ref>

=== Future of LPP S.A. === In April 2025, LPP S.A., has outlined an ambitious growth strategy aimed at doubling its revenue to approximately PLN 40 billion by 2027. Central to this plan is the accelerated expansion of its budget-friendly brand, Sinsay, which is projected to contribute 75% of the company’s revenue by that time.<ref>{{Cite web |last=Jakubowska |first=Alicja |date=2025-04-03 |title=LPP to double its revenue by 2027. The driving force behind the Group's development will be the Sinsay brand |url=https://www.lpp.com/en/press-releases/lpp-to-double-its-revenue-by-2027-the-driving-force-behind-the-groups-development-will-be-the-sinsay-brand/ |access-date=2025-04-09 |website=The official website of LPP SA |language=en-US}}</ref>

To achieve this, LPP intends to significantly increase its physical retail presence, aiming for around 7,500 stores by 2027. This expansion will be predominantly driven by Sinsay, with plans to open approximately 6,000 stores under this brand. The focus will be on penetrating smaller towns, particularly in Southern, Central, and Eastern Europe, where retail competition is less intense.<ref>{{Cite news |title=Poland's LPP bets on rapid Sinsay expansion to boost sales |url=https://www.reuters.com/business/retail-consumer/polish-fashion-retailer-lpp-misses-q4-profit-forecasts-2025-04-03/ |archive-url=https://web.archive.org/web/20250404135034/https://www.reuters.com/business/retail-consumer/polish-fashion-retailer-lpp-misses-q4-profit-forecasts-2025-04-03/ |archive-date=2025-04-04 |access-date=2025-04-09 |work=Reuters |language=en-US |url-status=live }}</ref>

=== Alleged closing of business operations in Russia === On 4 March 2022, LPP suspended all of its business activities on the Russian market alongside many other global companies as a response to the 2022 Russian invasion of Ukraine.<ref>{{cite web |title=LPP zawiesza działalność w Rosji. Ma tu prawie 500 sklepów i centrum dystrybucyjne |date=4 March 2022 |url=https://omnichannelnews.pl/2022/03/04/lpp-zawiesza-dzialalnosc-w-rosji-ma-tu-prawie-500-sklepow-i-centrum-dystrybucyjne/ |access-date=10 April 2022 |language=pl}}</ref> As of 2022, Russia remained the second biggest market for the company with approximately 500 stores and a distribution centre located in Russia.<ref>{{cite web |title=LPP zawiesza działalność w Rosji. Ma tu prawie pół tysiąca sklepów |date=4 March 2022 |url=https://www.propertynews.pl/centra-handlowe/lpp-zawiesza-dzialalnosc-w-rosji-ma-tu-prawie-pol-tysiaca-sklepow,99514.html#:~:text=Rosja%20to%20drugi%20najwi%C4%99kszy%20rynek%20dla%20LPP.%20Firma,przy%20uwzgl%C4%99dnieniu%20ogranicze%C5%84%20operacyjnych%22%20-%20czytamy%20w%20komunikacie. |access-date=10 April 2022 |language=pl}}</ref> On 28 April 2022, LPP sold its Russian subsidiary to a "Chinese consortium" and closed their 20-year presence on said market.<ref>{{Cite web |title=Current reports - CR 17/2022 Statement of the Management Board of LPP regarding further operations in Russia - The official website of LPP SA |url=https://www.lpp.com/en/investor-relations/reports/current-reports/cr-17-2022-statement-of-the-management-board-of-lpp-regarding-further-operations-in-russia |access-date=2022-12-08 |website=www.lpp.com|date=28 April 2022 }}</ref><ref>{{Cite web |title=Current reports - CR 19/2022 Notice of the Management Board of LPP SA on the decision to close business operations in Russia - The official website of LPP SA |url=https://www.lpp.com/en/investor-relations/reports/current-reports/cr-19-2022-notice-of-the-management-board-of-lpp-sa-on-the-decision-to-close-business-operations-in-russia |access-date=2022-12-08 |website=www.lpp.com|date=19 May 2022 }}</ref>

However, on 16 March 2024, Hindenburg Research, an American short-selling research firm, published an extensive report detailing how they had not sold their Russian subsidiary, but continued to mask operate in Russia using front entities. During this period, LLP's primary loan and finance agreements were with PKO Bank Polski, Poland's largest bank. LLP might have been in breach of loan agreements, since bank stated that they do not finance entities operating in Russia or in cooperation with Russian contractors.<ref>{{Cite web |date=2024-03-15 |title=Operating Behind Enemy Lines: How Fashion Powerhouse LPP S.A. Masked A Fake Russia 'Sell-Off' Using Front Entities And Encrypted Barcodes – Hindenburg Research |url=https://hindenburgresearch.com/lpp/ |url-status=live |archive-url=https://web.archive.org/web/20240315172030/https://hindenburgresearch.com/lpp/ |archive-date=2024-03-15 |access-date=2024-03-16 |website=Hindenburg Research |language=en-US}}</ref><ref>{{Cite web |date=2024-03-15 |title=Poland's LPP shares dive 36% after Hindenburg report |url=https://www.reuters.com/business/retail-consumer/polish-fashion-group-lpps-shares-tumble-after-hindenburg-report-2024-03-15/ |website=Reuters}}</ref>

LLP's stock price tanked around 35% after the publication of the report.<ref>{{Cite web |last=MarketScreener |date=2024-03-15 |title=Polish fashion group LPP's shares tumble on Hindenburg report -March 15, 2024 at 02:53 pm IST {{!}} MarketScreener |url=https://in.marketscreener.com/quote/stock/LPP-SA-6496786/news/Polish-fashion-group-LPP-s-shares-tumble-on-Hindenburg-report-46206865/ |url-status=live |archive-url=https://web.archive.org/web/20240316041603/https://in.marketscreener.com/quote/stock/LPP-SA-6496786/news/Polish-fashion-group-LPP-s-shares-tumble-on-Hindenburg-report-46206865/ |archive-date=2024-03-16 |access-date=2024-03-16 |website=in.marketscreener.com |language=en}}</ref> The company issued a statement in which it described the report's findings as a deliberate disinformation attack that had been in preparation for five months and was aimed at bringing down the company's stock price. LPP also announced it informed about this the Ministry of Foreign Affairs as well as the National Revenue Administration.<ref>{{Cite web |url=https://www.lpp.com/raporty/rb-04-2024-oswiadczenie-spolki-lpp-sa-dot-raportu-hindenburg-research/ |language=pl |title=RB 04/2024 – Oświadczenie Spółki LPP SA dot. raportu Hindenburg Research |website=lpp.com |access-date=14 September 2024}}</ref> As a result of these allegations, Warsaw Police Department opened an investigation regarding "the dissemination via the internet of information that gave or was likely to give false or misleading signals as to the actual demand, supply or price of a financial instrument".<ref>{{Cite web |url=https://www.reuters.com/business/retail-consumer/polands-lpp-says-police-are-investigating-hindenburg-research-2024-06-20/ |title=Poland's LPP says police are investigating Hindenburg Research |website=reuters.com |date=20 June 2024 |access-date=14 September 2024}}</ref>

== Stores and distribution centres == LPP’s global sourcing network is based on three distribution centres, dedicated to servicing over 2,000 stores worldwide (Reserved, Sinsay, House, Cropp and Mohito), as well as Fulfillment Centres, supporting the company’s online sales.<ref name="lpp.com"/><ref>{{Cite web |title=LPP Sustainability report for 2021-2022 |url=https://www.lpp.com/wp-content/uploads/2022/04/LPP-Sustainability-report-for-2021-2022.pdf}}</ref> All logistics processes are designed and managed by LPP Logistics – a logistics operator belonging to the LPP Group.<ref>{{Cite web |date=2022-08-02 |title=The Polish clothing manufacturer launches a new logistics operator – LPP Logistics |url=https://www.lpp.com/en/press-releases/the-polish-clothing-manufacturer-launches-a-new-logistics-operator-lpp-logistics/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref>

The company’s first distribution centre in Pruszcz Gdański was launched in 2008. It has since undergone modernisation and several expansions.<ref>{{Cite web |title=LOGISTICS - The official website of LPP SA |url=https://www.lpp.com/en/about-us/headquarters-offices-and-logistics/logistics |access-date=2022-12-08 |website=www.lpp.com}}</ref> In 2017, LPP began shipping from its newly opened FC in Stryków near Łódź.<ref>{{Cite web |title=LPP Company's website {{!}} LPP opens new Distribution Centres in Stryków and Moscow. |url=https://www.lpp.com/en/informacje-prasowe/lpp-otwiera-centra-dystrybucyjne-w-strykowie-i-moskwie |access-date=2022-12-08 |website=www.lpp.com|date=10 November 2017 }}</ref><ref>{{Cite web |title=LPP otwiera centra dystrybucyjne w Strykowie i Moskwie |url=https://www.dlahandlu.pl/detal-hurt/wiadomosci/lpp-otwiera-centra-dystrybucyjne-w-strykowie-i-moskwie,65627.html |access-date=2022-12-08 |website=www.dlahandlu.pl |date=10 November 2017 |language=pl}}</ref><ref>{{Cite web |title=LPP otwiera Centra Dystrybucyjne w Strykowie i Moskwie – firma chce znacząco skrócić czas realizacji zamówień w obszarze e-commerce {{!}} |url=https://arvato-supply-chain.pl/press/info-prasowe/lpp-otwiera-centra-dystrybucyjne-w-strykowie-i-moskwie-firma-chce-znaczaco-skrocic-czas-realizacji-zamowien-w-obszarze-e-commerce |access-date=2022-12-08 |website=arvato-supply-chain.pl |language=pl-PL}}</ref> As a result of the rapid growth of e-commerce, in 2019 the company opened another warehouse to handle online orders in Romania,<ref>{{Cite web |last=Słomski |first=Damian |title=LPP uruchomiło magazyn w Rumunii. Będzie obsługiwał zamówienia online |url=https://www.money.pl/gielda/lpp-uruchomilo-magazyn-w-rumunii-bedzie-obslugiwal-zamowienia-online-6431107416262785a.html |access-date=2022-12-08 |website=www.money.pl |date=3 October 2019 |language=pl-PL}}</ref><ref>{{Cite web |title=LPP Company's website {{!}} LPP launches e-commerce warehouse in Romania |url=https://www.lpp.com/en/informacje-prasowe/lpp-launches-e-commerce-warehouse-in-romania |access-date=2022-12-08 |website=www.lpp.com|date=4 October 2019 }}</ref> and a year later signed a contract to lease warehouse space in Slovakia.<ref>{{Cite web |title=LPP uruchomiło magazyn e-commerce na Słowacji |url=https://www.wiadomoscihandlowe.pl/artykul/lpp-uruchomilo-magazyn-e-commerce-na-slowacji |access-date=2022-12-08 |website=Wiadomości Handlowe |date=8 July 2020 |language=en}}</ref><ref>{{Cite web |title=LPP Company's website {{!}} LPP has launched an e-commerce warehouse in Slovakia to serve Central European markets |url=https://www.lpp.com/en/informacje-prasowe/lpp-has-launched-an-e-commerce-warehouse-in-slovakia-to-serve-central-european-markets |access-date=2022-12-08 |website=www.lpp.com|date=8 July 2020 }}</ref> Further demand for the expansion of logistics facilities resulted in launch of further Fulfillment Centres in Pruszcz Gdański<ref>{{Cite web |title=LPP Serwis firmowy {{!}} LPP przygotowuje się do uruchomienia nowego magazynu e-commerce w Pruszczu Gdańskim |url=https://www.lpp.com/informacje-prasowe/lpp-przygotowuje-sie-do-uruchomienia-nowego-magazynu-e-commerce-w-pruszczu-gdanskim |access-date=2022-12-08 |website=www.lpp.com|date=18 October 2021 }}</ref><ref>{{Cite web |title=LPP Company's website {{!}} LPP Logistics opens the largest Fulfillment Centre warehouse in the distribution network of LPP Group |url=https://www.lpp.com/en/informacje-prasowe/lpp-logistics-opens-the-largest-fulfillment-centre-warehouse-in-the-distribution-network-of-lpp-group |access-date=2022-12-08 |website=www.lpp.com|date=6 September 2022 }}</ref> and Podkarpacie in 2022.<ref>{{Cite web |title=LPP Company's website {{!}} New LPP e-commerce warehouse near Rzeszów |url=https://www.lpp.com/en/informacje-prasowe/new-lpp-e-commerce-warehouse-near-rzeszow |access-date=2022-12-08 |website=www.lpp.com|date=19 January 2022 }}</ref><ref>{{Cite web |title=LPP Serwis firmowy {{!}} Rośnie nowy magazyn e-commerce LPP na Podkarpaciu |url=https://www.lpp.com/informacje-prasowe/rosnie-nowy-magazyn-e-commerce-lpp-na-podkarpaciu |access-date=2022-12-08 |website=www.lpp.com|date=9 May 2022 }}</ref><ref>{{Cite web |title=LPP Serwis firmowy {{!}} Budowa nowego magazynu e-commerce LPP na Podkarpaciu na półmetku |url=https://www.lpp.com/informacje-prasowe/budowa-nowego-magazynu-e-commerce-lpp-na-podkarpaciu-na-polmetku |access-date=2022-12-08 |website=www.lpp.com|date=14 June 2022 }}</ref> In the same period, the Group’s second distribution centre, Brześć Kujawski DC, became operational.<ref>{{Cite web |date=2022-05-25 |title=Distribution centre in Brześć Kujawski is now fully operational |url=https://www.lpp.com/en/press-releases/distribution-centre-in-brzesc-kujawski-is-now-fully-operational/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref> At the end of 2022, the total warehouse space of all facilities managed by LPP Logistics amounted to over 400,000 m2.<ref>{{Cite web |title=LPP Logistics |url=https://www.lpplogistics.com/ |access-date=2023-12-03 |website=www.lpplogistics.com}}</ref>

== Brands == LPP owns five brands that offer a variety of products aimed at different group of consumers. {| class="wikitable" |+ !Brand !Year of creation !Number of stores (2024) !Target consumers !Markets !Notes |- |Reserved |1998 |365 |Reserved is LPP’s flagship brand. The brand offers women’s, men’s, and children’s fashion, along with accessories and footwear. |Besides Poland, stores are located in Austria, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Egypt, Estonia, Finland, France, Germany, Great Britain, Hungary, Israel, Italy, Kazakhstan, Kuwait, Latvia, Lithuania, North Macedonia, Qatar, Romania, Serbia, Saudi Arabia, Slovakia, Slovenia, Ukraine, and the United Arab Emirates. |The brand introduced Reserved Home in 2024, specializing in home textiles and decorations. It was closed the same year due to poor sales. |- |House |2001; acquired in 2009 |371 |A brand for teenagers and young adults. |Physical stores in 19 European countries and online sales available in 22 countries. | |- |Cropp |2004 |374 |Cropp is a streetwear brand inspired by music, art, and sports. Clothing, footwear, and accessories for both men and women. |In 2024, the company owned 374 stores in Europe, located in 18 countries, including stores in Poland, and in other countries such as Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Finland, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Serbia, Slovakia, Slovenia, and Ukraine. | |- |Mohito |2008; acquired in 2009 |234 |A brand aimed at women, offering clothing, accessories, and perfumes. |Physical stores in 22 countries, including Poland, Italy, Ukraine, and Finland, as well as an additional online store in Germany and Spain. | |- |Sinsay |2013 |1230 |Sinsay is a brand offering clothing for women, men, and children, as well as pet products, home décor, textiles, and cosmetics. |Poland, Czech Republic, Slovakia, Hungary, Romania, Moldova, Bulgaria, Croatia, Serbia, Slovenia, Bosnia and Herzegovina, Lithuania, Latvia, Estonia, Italy, Greece, Ukraine, North Macedonia, Kosovo, and Germany (online store). |In 2023, the brand introduced Sinsay Club for its customers – a loyalty program where points are earned for every purchase, which can be exchanged for discount vouchers. |- |Tallinder |2016 |8 (closed) |A premium brand. The collection included men’s and women’s clothing, accessories, and footwear. Most of the collection was made in Europe, including Poland, Italy, Portugal, and Turkey. |Poland |All Tallinder stores has been closed since 2017 due to poor sales. |}

== Production == LPP does not operate its own factories. The clothing of the Group's brands is produced mainly in Asia, but also in Poland and other European countries, including Italy, Portugal, Romania, Bulgaria, and Turkey.<ref>{{Cite web |url=https://www.thefirstnews.com/article/fashion-giant-lpp-makes-contingency-plans-for-coronavirus-10437#:~:text=Listed%20on%20the%20Warsaw%20Stock%20Exchange%20since%202001%2C,countries%20in%20Europe%2C%20Asia%20and%20the%20Middle%20East. |title=Fashion giant LPP makes contingency plans for coronavirus |website=thefirstnews.com |author=Anne Chatham |date=12 February 2020 |access-date=13 June 2023}}</ref><ref>{{Cite web |url=https://www.reuters.com/article/poland-lpp-idCNL8N2R234A |title=Polish fashion retailer LPP flags supply chain woes, rising costs |website=reuters.com |author=Adrianna Ebert |date=6 October 2021 |access-date=13 June 2023}}</ref> Since 1997, the company has had an office in Shanghai, and since 2015, also in the capital of Bangladesh - Dhaka.<ref>{{Cite web |url=https://www.lpp.com/en/about-us/headquarters-offices-and-logistics#:~:text=Our%20Asian%20offices%20in%20Shanghai%20operate%20since%201997,each%20stage%20and%20are%20responsible%20for%20quality%20control. |title=HEADQUARTERS, OFFICES AND LOGISTICS |website=lpp.cpm |date=17 March 2023 |access-date=13 June 2023}}</ref>

== Presence on the Warsaw Stock Exchange == LPP SA has been listed on the Warsaw Stock Exchange since 2001. At the time of its début, the price per share was PLN 48. In 2014, LPP was included in the WIG20 index of the 20 largest companies listed on the Warsaw Stock Exchange. In the same year, LPP was included in the MSCI index.<ref name=":3" /><ref name=":4" />

== Shareholding structure == According to the company's own data, the number of votes at the General Meeting of Shareholders is as follows:<ref>{{Cite web |title=Akcjonariat - Oficjalna strona LPP SA |url=https://www.lpp.com/relacje-inwestorskie/akcjonariat |access-date=2020-02-05 |website=www.lppsa.com}}</ref> * Semper Simul Foundation – 60.8% * Sky Foundation – 5.7% * Others – 33.5%

In order to ensure its long-term continuity and avoid the fragmentation of LPP capital in the future, the founders of the company decided in 2018 to establish a foundation and contribute their shares there.<ref>{{Cite web |title=raporty-biezace - RB 17/2018 Informacja o transakcji na akcjach emitenta - Oficjalna strona LPP SA |url=https://www.lpp.com/relacje-inwestorskie/raporty/raporty-biezace/rb-172018-informacja-o-transakcji-na-akcjach-emitenta |access-date=2020-02-05 |website=www.lppsa.com |archive-date=2021-03-05 |archive-url=https://web.archive.org/web/20210305001549/https://www.lppsa.com/relacje-inwestorskie/raporty/raporty-biezace/rb-172018-informacja-o-transakcji-na-akcjach-emitenta |url-status=dead }}</ref> In 2020, the Semper Simul Foundation, which is the majority shareholder of the company, took over the controlling stake of LPP in order to provide stable management of the family business and the implementation of its strategy.<ref>{{Cite web |title=LPP Serwis firmowy {{!}} Decyzja głównych akcjonariuszy LPP o wymianie akcji kolejnym krokiem na drodze do umocnienia firmy rodzinnej na pokolenia (lppsa.com) |date=16 October 2020 |url=https://www.lpp.com/informacje-prasowe/decyzja-glownych-akcjonariuszy-lpp-o-wymianie-akcji-kolejnym-krokiem-na-drodze-do-umocnienia-firmy-rodzinnej-na-pokolenia }}</ref>

== Production in Asia, supply chain control and ACCORD agreement == Since 2013, LPP has been systematically working on the implementation of standards for improving safety and working conditions in the clothing industry in Asia. Since 2014, a Code of Conduct<ref>{{Cite web|url=https://odpowiedzialnybiznes.pl/dobre-praktyki/kodeks-postepowania-lpp/|title=Kodeks Postępowania LPP|last=Biznesu|first=Forum Odpowiedzialnego|website=Forum Odpowiedzialnego Biznesu|language=pl-PL|access-date=2020-02-05}}</ref> has been in force for all suppliers working with LPP. The document takes into account the key provisions of the International Labour Organization conventions and the Universal Declaration of Human Rights and sets out the requirements for suppliers, including, among others, wage policy, prohibition of child labour, voluntary nature of work, freedom of association, occupational health and safety principles. In order to increase supervision over the factories producing for LPP in Bangladesh, in addition to controlling its own inspectors, the company decided to commission an international auditor, SGS, to verify the actual compliance of suppliers in Bangladesh with the Code of Conduct.<ref>{{Cite web |url=https://www.lpp.com/en/informacje-prasowe/list-otwarty-marka-piechockiego-prezesa-lpp-sa-na-temat-dzialan-w-bangladeszu#:~:text=In%20order%20to%20increase%20the%20supervision%20of%20the,Conduct.%20We%20did%20not%20rest%20on%20our%20laurels. |title=LPP INVESTS MILLIONS IN CONTROLLING FACTORIES IN ASIA |website=lpp.com |date=24 April 2017 |access-date=13 June 2023}}</ref>

In addition, in October 2013, LPP, as the only Polish clothing company, joined the ACCORD Agreement aimed at improving safety in clothing factories in Bangladesh (Accord on Fire and Building Safety in Bangladesh).<ref>{{Cite web|url=https://www.propertynews.pl/centra-handlowe/lpp-dba-o-warunki-pracy-tysiace-pracownikow-azjatyckich-fabryk-objetych-szkoleniami-z-zakresu-bezpieczenstwa,61482.html|title=LPP dba o warunki pracy. Tysiące pracowników azjatyckich fabryk objętych szkoleniami z zakresu bezpieczeństwa|last=PTWP|website=www.propertynews.pl|date=7 February 2018 |language=pl|access-date=2020-02-05}}</ref> Thanks to the cooperation and financial support of the signatories of the agreement, a total of more than 1600 Asian production plants and sewing plants were subject to inspection. ACCORD also contributed to the implementation of recovery programmes in more than 90% of the factories (as at the end of 2017). As part of the “Safety Committee Training” programme, one of the key projects of the agreement, by the end of 2017, 882 training courses were conducted in which nearly 1.2 million employees participated.{{Citation needed|date=May 2023}}

At the beginning of 2018, LPP signed another 3-year extension of the agreement, the so-called “Transition ACCORD”.<ref>{{Cite web|url=https://www.uniglobalunion.org/news/2018-transition-accord-bangladesh-swells-more-100-brand-signatories|title=2018 Transition Accord in Bangladesh swells to more than 100 brand signatories|website=UNI Global Union|language=en|access-date=2020-02-05|archive-date=2021-03-09|archive-url=https://web.archive.org/web/20210309044144/https://www.uniglobalunion.org/news/2018-transition-accord-bangladesh-swells-more-100-brand-signatories|url-status=dead}}</ref> Its main objective is to prepare the Bengali government to carry out independent inspections and audits in the factories and to ensure further implementation of measures aimed at sustainable improvement of working conditions. As of 1 September 2021, a new initiative - called the International Accord for Health and Safety in the Textile and Garment Industry (International Accord for short) - was established to replace the existing ACCORD initiative. Its aim is to continue and expand the joint efforts of the signatories of the agreement together with trade unions to ensure safety in garment factories.<ref>{{Cite web |url=https://actionaid.org.au/international-accord-anniversary/#:~:text=The%20International%20Accord%20for%20Health%20and%20Safety%20in,September%202021%20after%20the%20original%20Bangladesh%20Accord%20expired. |title=One year of the International Accord: which brands still haven't signed? |website=actionaid.org.au |date=1 September 2022 |access-date=13 June 2023}}</ref>

In 2022, the company joined amfori BSCI,<ref name="Production">{{Cite web |date=2023-05-26 |title=Production |url=https://www.lpp.com/en/sustainable-development/environment/production/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref> a global initiator of sustainable production and trade activities. This membership will enable LPP to better verify and monitor ethical, labour and environmental issues in collaborating factories.<ref name="Sustainability report"/>

A year later, in turn, LPP was the only Polish company to become a signatory to Accord Pakistan (The Pakistan Accord on Health and Safety in the Textile and Garment Industry), which aims to control working and safety conditions in supply chains involving suppliers from Pakistan.<ref name="ReferenceE">{{Cite web |date=2023-02-16 |title=LPP has become one of the signatories of the Pakistan Accord |url=https://www.lpp.com/en/press-releases/lpp-has-become-one-of-the-signatories-of-the-pakistan-accord/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref>

== LPP as a tax payer == According to a report by the Ministry of Finance, in 2018, LPP was ranked third among the largest CIT payers in Poland in the commercial sector. {| class="wikitable" ! Year ! Revenues (PLN bn) ! Income (PLN mn) ! CIT (PLN mn)<ref>{{Cite web|url=https://www.gov.pl/web/finanse/dane-za-rok-2018|title=2018 - Ministerstwo Finansów - Portal Gov.pl|website=Ministerstwo Finansów|language=pl-PL|access-date=2020-02-05}}</ref> |- |2021 |12 |1959 |355.3 |- |2020 |6.5 |219 |41 |- |2019 |8.2 |850 |108 |- |2018 |6.9 |1044 |144.8 |- |2017 |6.1 |536 |41 |- |2016 |5.2 |243 |6 |- |2015 |4.8 |419 |44 |- |2014 |4.4 |622 |86 |- |2013 |3.8 |542 |87 |- |2012 |3 |393 |57 |} Since 2016, the company has paid a total of PLN 7.6<ref name="ReferenceE"/> bn<ref>{{Cite web |title=LPP Sustainability Report for 2021-2022 |url=https://www.lppsa.com/wp-content/uploads/2022/04/LPP-Sustainability-report-for-2021-2022.pdf}}</ref><ref name="lpp.com"/> to the state budget for taxes and other tributes, while its contribution to the Polish budget in 2022 alone amounted to nearly 1.7<ref>{{Cite web |date=2023-04-27 |title=LPP summarises financial results for 2022/2023 |url=https://www.lpp.com/en/press-releases/lpp-summarises-financial-results-for-2022-2023/ |access-date=2023-12-03 |website=The official website of LPP SA |language=en-US}}</ref> bn.<ref name="lpp.com"/><ref name="LPP to polska firma odzieżowa"/><ref>{{Cite web |title=LPP Raport Zintegrowany 2020 – Online – PL (lppsa.com) (str. 42) |url=https://www.lpp.com/wp-content/uploads/2018/02/LPP-Raport-Zintegrowany-2020-Online-PL.pdf }}</ref><ref name=":7">{{Cite web |last=Raport LPP |date= |title=Raport LPP |url=https://www.lpp.com/wp-content/uploads/2018/02/LPP-Raport-Zintegrowany-2019-Online-PL.pdf |archive-url= |archive-date= |access-date= |website=}}</ref>

=== Charitable activity === In December 2017, the company established the LPP Foundation. The aim of its activities is to support people threatened by social exclusion, help people in difficult life situations and ensure health protection.<ref>{{Cite web |title=Fundacja LPP wspiera - Oficjalna strona LPP SA |url=https://www.lpp.com/zrownowazony-rozwoj/fundacja-lpp-wspiera |access-date=2020-02-05 |website=www.lppsa.com |archive-date=2020-04-01 |archive-url=https://web.archive.org/web/20200401032905/https://www.lppsa.com/zrownowazony-rozwoj/fundacja-lpp-wspiera |url-status=dead }}</ref>

== Environment policy == Since 2017, the company has been reporting regularly on its sustainability activities in the form of reports available at <nowiki>https://www.lppsa.com/zrownowazony-rozwoj/raport-roczny</nowiki>. Gradual reduction of its carbon footprint has been adopted as one of the main objectives of its sustainability-oriented activities. To this end, the company calculated its CO2 emissions independently in 2021, taking into account all three scopes and categories defined in the GHG Protocol.<ref>{{Cite web |title=Environment - The official website of LPP SA |url=https://www.lpp.com/en/sustainable-development/environment |access-date=2022-12-08 |website=www.lpp.com}}</ref><ref>{{Cite web |title=LPP Sustainability Report for 2021-2022 |url=https://www.lppsa.com/wp-content/uploads/2022/04/LPP-Sustainability-report-for-2021-2022.pdf}}</ref>

In 2021, LPP adapted its organisational structure by creating the position of Director of Purchasing and ESG.<ref name="lpp.com"/> The role’s responsibilities comprise planning and coordinating the implementation of responsible business standards within LPP Group, developing and implementing guidelines in all three ESG pillars: environmental, social and corporate governance.<ref>{{Cite web |title=LPP Company's website {{!}} LPP sums up another year of implementing its sustainable development strategy |url=https://www.lpp.com/en/informacje-prasowe/lpp-sums-up-another-year-of-implementing-its-sustainable-development-strategy |access-date=2022-12-08 |website=www.lpp.com|date=10 May 2022 }}</ref><ref>{{Cite web |title=LPP Sustainability report for 2021-2022 |url=https://www.lppsa.com/wp-content/uploads/2022/04/LPP-Sustainability-report-for-2021-2022.pdf}}</ref>

==References== {{Reflist}}

==External links== * {{Official website|www.lppsa.com}}

Category:Companies listed on the Warsaw Stock Exchange Category:Retail companies of Poland Category:Multinational companies headquartered in Poland Category:Clothing companies established in 1991 Category:Retail companies established in 1998 Category:Clothing companies of Poland Category:Companies based in Gdańsk Category:Polish brands

LPP (company)

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