Lipsy reassures stockists

Lipsy has reassured it stockists

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Next chief executive Simon Wolfson and Lipsy managing director Jeremy Stakol have reassured stockists that Lipsy will remain committed to the wholesale business, after Next bought the brand last week.

Wolfson told Drapers: "We won't interfere with who Lipsy supplies – we are looking at growing the business to make it more profitable."

Stakol said the brand would look to introduce new product categories such as lingerie, and more jersey collections.

"We will utilise Next's sourcing operations and we're looking at licensing opportunities with new product categories," said Stakol. "With Next we'll be able to offer additional home delivery services."

Stakol added that Lipsy was looking to grow the concession side of the business, to add to the one it has in Topshop on London's Oxford Street. However, Stakol remained adamant that Lipsy product would not be sold in Next stores.

He said that international markets offer huge growth potential. "We only launched internationally 12 months ago, but it offers a great chance to build the brand."

The brand plans to open six UK Lipsy stores in 2009, and will also target the Middle East.