Polish Clothing Retailer LPP Launches Logistics Business

A woman looks at cloth at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel
A woman looks at cloth at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel
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Polish Clothing Retailer LPP Launches Logistics Business

A woman looks at cloth at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel
A woman looks at cloth at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel

Polish apparel company LPP (LPPP.WA) has launched a new business to manage the retailer's logistics network, starting in August, the company said on Tuesday.

LPP Logistics will be responsible for operations at a network of seven facilities situated in Poland and abroad, Reuters reported.

It will handle "tens of thousands" of containers and distribute about 400 million items a year, said Jacek Kujawa, CEO of the newly launched unit.

LPP Logistics expects to open two new warehouses each year and, with ecommerce making up an increasing share of operations, is looking at technology such as autonomous mobile robots.

Although the operator's biggest clients are LPP group brands, it does not rule out providing services to external companies.



Kering Reaches $860 Mln Paris Real Estate Deal with Ardian

The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)
The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)
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Kering Reaches $860 Mln Paris Real Estate Deal with Ardian

The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)
The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)

Gucci owner Kering has transferred three of its Paris real estate assets to a new joint venture with French private equity firm Ardian, freeing up 837 million euros ($860.27 million) in proceeds, the company announced on Wednesday.

The portfolio of the new entity, in which Kering will keep a 40% stake, includes a building on place Vendome, famous for its jewellery boutiques, and two others on avenue Montaigne, one of Paris's main high-end shopping streets.

The transaction is part of Kering's broader real estate strategy, aimed at securing control of high-profile retail locations while also raising cash.

The company - which also owns fashion labels Saint Laurent, Balenciaga and Bottega Veneta - issued a hefty profit warning in October. It is due to report full-year results on Feb. 11.