عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Poland's Largest Fashion Retailer LPP Optimistic on Third-quarter Sales

People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
TT
20
TT

Poland's Largest Fashion Retailer LPP Optimistic on Third-quarter Sales

People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights

Poland's largest fashion retailer LPP said its revenue could increase by more than 20% year-on-year in the third quarter, in an upbeat outlook that coincided with unexpectedly weak official data on the country's retail sales.

Polish retail sales fell 3.0% year on year in September, statistics office data showed on Tuesday, which analysts attributed to slowing real income growth and last month's floods knocking consumer optimism, Reuters reported.

"Yesterday's data was actually a bit surprising... because what we see in August, September and also after most of October is in a completely different direction," LPP Financial Director Marcin Bojko told journalists.

LPP's third quarter runs from August to October.

Bojko said the company was also optimistic about the fourth quarter.

LPP's shares were up 1.8% at 1431 GMT.

In September, LPP confirmed its full-year revenue target of 20-21 billion zlotys.

Most Viewed

 
Fashion

Saudi Fashion Commission Releases 'Ihram Circularity' White Paper, Promoting Sustainable Pilgrimage

Saudi Fashion Commission Releases 'Ihram Circularity' White Paper, Promoting Sustainable Pilgrimage
TT
20
TT

Saudi Fashion Commission Releases 'Ihram Circularity' White Paper, Promoting Sustainable Pilgrimage

Saudi Fashion Commission Releases 'Ihram Circularity' White Paper, Promoting Sustainable Pilgrimage

The Saudi Fashion Commission released its white paper, "Ihram Circularity: Weaving a Greener Hajj and Umrah Experience," detailing the innovative Sustainable Ihram Initiative and its potential to revolutionize textile waste management within the Kingdom and beyond.

This initiative marks Saudi Arabia's first foray into circular fashion, intertwining faith, cultural preservation, and environmental responsibility, said the commission in a statement on Monday.

The white paper serves as a comprehensive exploration of the Sustainable Ihram Initiative, which focuses on the creation of a special edition Ihram made from recycled materials.

This initiative transforms discarded Ihrams into sustainable garments for pilgrims undertaking the Hajj and Umrah, embodying a commitment to responsible resource utilization while honoring the spiritual significance of these sacred journeys, explained the statement.

CEO of Fashion Commission Burak Cakmak said: "The Sustainable Ihram Initiative is a testament to the power of collaboration, reflecting the collective efforts of local and international partners committed to advancing the circular economy within the fashion industry."

CEO of Tadweem – the Fashion Commission’s partner in the Sustainable Ihram Initiative- Mostafa Bokhari said: "This Circular Ihram represents more than a garment; it is a profound expression of faith intertwined with environmental stewardship. By uniting the principles of faith and sustainability, we are creating a legacy of mindful resource use while honoring the spiritual significance of Hajj and Umrah."

The "Ihram Circularity" white paper delves into the cultural symbolism of Ihram garments and their significance to pilgrims, the potential for scaling Ihram garment recycling and its impact on reducing textile waste, strategies for promoting the use of recycled Ihrams and raising awareness among pilgrims, and the role of technology and innovation in creating high-quality recycled textile products.

The commission invites industry stakeholders, researchers, and the public to explore the white paper and join the conversation about creating a more sustainable future for the fashion industry.