Lipsy maps out launch plans for US

Young fashion brand Lipsy is gearing up to launch in the US later this year and is drawing up plans to open a New York office.

The brand, which is favoured by celebrities such as Paris Hilton, is considering entering into a joint venture with a US partner to grow the brand stateside.

Lipsy managing director Jeremy Stakol said: "New York appeals to us firstly because a lot of the department stores have head offices there. It is a key market for us and we are talking to a number of people about it."

The business is expected to self-finance the expansion but Stakol said he had received a number of approaches from potential purchasers or investors who are thought to be keen on the brand because it is outperforming the market in a tough retail climate.

He said he had no immediate plans to sell, but added: "If there were someone interested in joining the Lipsy family and someone who could add value, we would look at it."

Lipsy has about 400 UK and European wholesale accounts and has concessions in Topshop, Selfridges and on Asos.com.

Lipsy recently expanded into Europe and has five distributors on the continent. It also supplies the South African and Australian young fashion markets.

In May 2006, husband and wife Jeremy and Marcelle Stakol took a 25% stake in the brand following an MBO.