The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
1,000 jobs Number of planned job creations
Announcement Date
13 June 2018
Employment effect (start)
1 January 2019
Foreseen end date
31 December 2019
Description
Polish clothing retailer LPP has announced that it will increase its workforce by 4,000 jobs at the units across Poland by the end of 2021. LPP want to create 1,000 new jobs in every year of the four-year programme (2018-2021), therefore it announced the creation of 1,000 jobs for 2019. The programme is associated with the company’s plan to increase its revenue from PLN 7.03 billion (€1.64 billion) in 2017 to PLN 10.5 billion (€2.4 billion) in 2021. According to the plan, the company will invest PLN 1.5bn (€0.34 billion) on expanding its retail network.
LPP was founded in 1995 and currently owns 5 clothing brands (Reserved, Cropp, House, Mohito, Sinsay) and has over 1,740 stores in 18 countries, including Poland, Russia, Ukraine, Latvia, Lithuania, Estonia, Czech Republic, Slovakia, Bulgaria, Croatia, Hungary, Romania and Egypt. The company employs about 25,000 people.
In 2017, the company announced a restructuring programme resulting in the creation of 1,000 jobs in 2018. It constituted the first step of the four-year programme.
Sources
13 June 2018: Bankier
13 June 2018: Strefa Biznesu
Citation
Eurofound (2018), LPP, Business expansion in Poland, factsheet number 94424, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94424.
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