(Filed Under wholesale Lingerie News). The opening of at least the first four La Senza lingerie stores in the U.S. is close at hand, with two located in seperate malls in Columbus, Ohio and one each in malls in Merrillville, Indiana and Orland Park, Illinois.
L Brands, which also owns Victoria’s Secret and Pink, has previously called the move into this country a test.
As of July 20th, L Brands (which is based in Columbus), was operating 125 La Senza stores in Canada. “Additionally, La Senza has more than 221 stores in 28 other countries operating under franchise, license and wholesale arrangements,” the firm stated on its website recently.
L Brands completed its takeover of La Senza in 2007, but has closed more than half of the 322 shops it had in operation in Canada as of January 31, 2009.
An examination of sales and manager positions advertised on the L Brands employment web page revealed the locations of the four soon-to-be-opened stores. The directory for the Polaris Fashion Place mall in Columbus noted a La Senza store is “Coming Soon.” The same result is displayed for a store in the Easton Town Center mall in the same city. Although a “co-manager” job is listed for a La Senza shop in the Orland Square mall in Orland Park, a search of its directory does not yet acknowledge the store. The directory for the Southlake Mall in Merrillville, Indiana stated: “La Senza - Coming Fall 2016.”
Back in February, during a conference call with analysts to discuss L Brands financial results, Martin Waters, president of the international division, stated, “We will open probably five stores in the fall, first stores opening in November. Not particularly material in terms of the CapEx as those stores are only 2,000 square feet in space. Not particularly material in terms of pre-opening costs, but very significant in terms of the future growth opportunity that that represents. We won’t get too far ahead of ourselves in claiming victory. It’s just a test. And we’ll call it over the holiday period and we will report back in January, but certainly, very exciting progress for the brand.”
He added, “We continue to make really good progress in La Senza. We have had a multi-quarter run of positive comps, very strong sales performance, really driven by being faster to market, more fashion right, and zeroing in on the customer with a young, sexy, obvious value positioning. And that positioning is what really differentiates it from both PINK and from Victoria. And in markets around the world where we see the three lingerie brands present, we know that they trade effectively alongside each other. They appeal to different customers and where they appeal to the same customer in different shopping modes and different moods, it’s all good.” — NM
A full transcript of the February earnings call can be found here: http://seekingalpha.com/article/3930846-l-brands-lb-q4-2015-results-earnings-call-transcript?part=single
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