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Lipsy to shut down website

Young fashion brand Lipsy will cease trading from its own website in January 2018.

The brand will focus instead on selling through its own stores and online via Next and Asos.

Lipsy has 40 stores in the UK is planning to open “several more” this autumn. It will open on Oxford Street in March 2018. It also trades from more than 40 franchise stores internationally.

From January, customers visiting the Lipsy site will be redirected to Next, which acquired the brand in 2008.

“As the vast majority of online sales for both Lipsy and brands [it sells third-party brands through the Lipsy &Co section of Next’s website] are driven through the Next website, we have taken a decision to close Lipsy.co.uk with effect from January 2018,” the business said.

“We will continue to focus on accelerating the growth of Lipsy and Lipsy & Co brands on Next online.”

Lipsy said there would be “limited head office redundancies” as a result of the decision.

Licensed Lipsy products, such as sunglasses, fragrance, cosmetics and accessories, will continue to be sold via third-party retailers and websites.

In July, Lipsy reported a 17% increase in turnover for the year to 28 January, to £80.5m, fuelled by growth across all territories. However, its operating profit fell 3% to £5.8m.

Sales of third-party brands through Lipsy & Co increased to 34% of total sales, up from 23% in 2016.

 

 

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