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The story
1991–2000
In 1991, Marek Piechocki and Jerzy Lubianiec, the founders of the company, started their business activities in the clothing industry in Gdańsk. After four years, the company initially operating under the name of PH Mistral s.c. was transformed into LPP (abbreviation of the surnames of its founders - Lubianiec, Piechocki and Partners). In 1997, the office in Shanghai was officially opened. In the late 1990s, the owners of LPP decided to create their first brand - Reserved - and build their own retail network. The first store of the brand was opened in 1998.
2001–2013
In 2001, LPP made its début on the Warsaw Stock Exchange. The next two years saw the expansion of Reserved brand to the markets of Central and Eastern Europe. In 2002, the company stores were opened in Russia, Estonia, the Czech Republic, Latvia, and Hungary, and in 2003 in Lithuania, Ukraine and Slovakia. The company expanded its portfolio and opened a Cropp store in Poland in 2004. In the following years the brand was launched in Estonia, Slovakia, and Latvia (2005) as well as in Lithuania, Russia, and the Czech Republic (2006). The years 2007 - 2008 were the period of development of activity on the Romanian and Bulgarian markets. In 2008, LPP opened its Distribution Centre in Pruszcz Gdański. In the same year, LPP took over a Cracow-based company - Artman - owner of House and Mohito brands. Owing to this transaction, LPP became the largest clothing company in Poland and the owner of four brands. In 2013, the company's portfolio was expanded by Sinsay brand.
2014–2019
In 2014, the company was included in the WIG20 index, and the flagship brand - Reserved - appeared on the German market. In the same year, all LPP products made their debut in Croatia. In the following year, the company expanded into the Middle East. At the end of 2017, the LPP sales network comprised more than 1,700 stores with a total area of 1 million square metres. In 2017, the LPP product office was opened in Warsaw, and Reserved, Cropp and House brands made their débuts in Belarus and Serbia. In 2017 LPP opened a Reserved store on Oxford Street in London. 2018 saw further debuts of LPP stores on new markets, including in Israel, Kazakhstan, and Slovenia. In 2019 the Company opened first stores in Bosnia and Herzegovina and Finland.
Since 2020
In 2020, the company underwent an accelerated digital transformation in response to the restrictions on stationary trade caused by the COVID-19 pandemic, thereby transforming itself into an omnichannel organisation. The distinction between online and stationary sales was removed, and both channels have been treated as a customer-centric whole. A year later, with the stabilisation of the market, LPP returned to its policy of foreign expansion and, strengthening its position in South-Eastern Europe, opened the first stores of all its brands in North Macedonia. Two years later, following the Russian aggression against Ukraine, LPP took the key decision to cease operations in Russia altogether and sell the subsidiary to a Chinese consortium. As a result of the loss of its second-largest market, the company adopted a new development strategy, which involves further expansion in the central, southern and western parts of Europe and increased sales volumes in the e-commerce channel. In 2022, LPP opened Sinsay stationary stores in Italy, and with the beginning of the following year – in Greece.
In the fall of 2023, Reserved debuted in Milan, and also expanded brand’s retail network in the UK, opening four new stationary stores in London.
Future of LPP S.A.
In April 2025, LPP S.A., has outlined an ambitious growth strategy aimed at doubling its revenue to approximately PLN 40 billion by 2027. Central to this plan is the accelerated expansion of its budget-friendly brand, Sinsay, which is projected to contribute 75% of the company’s revenue by that time.
To achieve this, LPP intends to significantly increase its physical retail presence, aiming for around 7,500 stores by 2027. This expansion will be predominantly driven by Sinsay, with plans to open approximately 6,000 stores under this brand. The focus will be on penetrating smaller towns, particularly in Southern, Central, and Eastern Europe, where retail competition is less intense.
Alleged closing of business operations in Russia
On 4 March 2022, LPP suspended all of its business activities on the Russian market alongside many other global companies as a response to the 2022 Russian invasion of Ukraine. As of 2022, Russia remained the second biggest market for the company with approximately 500 stores and a distribution centre located in Russia. On 28 April 2022, LPP sold its Russian subsidiary to a "Chinese consortium" and closed their 20-year presence on said market.
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However, on 16 March 2024, Hindenburg Research, an American short-selling research firm, published an extensive report detailing how they had not sold their Russian subsidiary, but continued to mask operate in Russia using front entities. During this period, LLP's primary loan and finance agreements were with PKO Bank Polski, Poland's largest bank. LLP might have been in breach of loan agreements, since bank stated that they do not finance entities operating in Russia or in cooperation with Russian contractors.
LLP's stock price tanked around 35% after the publication of the report. The company issued a statement in which it described the report's findings as a deliberate disinformation attack that had been in preparation for five months and was aimed at bringing down the company's stock price. LPP also announced it informed about this the Ministry of Foreign Affairs as well as the National Revenue Administration. As a result of these allegations, Warsaw Police Department opened an investigation regarding "the dissemination via the internet of information that gave or was likely to give false or misleading signals as to the actual demand, supply or price of a financial instrument".
From Wikipedia’s article on LPP (company), shared under CC BY-SA 4.0.5