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Mosaic chairman joins Lipsy as brand puckers up for expansion

Young fashion brand Lipsy has appointed Mosaic Fashions chairman Stewart Binnie as non-executive chairman, as the business expands internationally and launches a new website.

Lipsy has 400 stockists in the UK as well as concessions in six Topshop regional flagship stores, including Oxford Circus in London.

Its new website will launch later this month. In November the brand started selling online by reactivating an old marketing site, and the business already brings in about £30,000 a week in sales and has a database of 35,000 email addresses.

The new site, designed by web consultancy Imano, will enable Lipsy to collect customer data more efficiently and present clothes in 3-D via podcasts.

The brand, which was the subject of a buyout deal last May, has sales of £11 million. Managing director Jeremy Stakol told Drapers that EBITDA after investment in branding, the website and systems rose to £1.2m in the year to June 2007.

Lipsy, which already sells in Germany, Greece, Cyprus, South Africa and Australia, is recruiting a European sales team to aid overseas expansion.

Stakol added: "We are delighted to have attracted someone of Stewart's calibre to the business."

- For more on Lipsy, see page 18.

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