The LPP management board has awarded a 10% pay rise to all employees at the company’s headquarters from January 2022. The Polish clothing manufacturer also announced a new remuneration policy for its sales network and payment of 6-month bonuses before the end of this year.
The company’s management also said that those who will be affected by the tax changes announced at the beginning of the year can count on compensation.
The company’s positive financial situation is, according to the management board, the result of the joint effort of all teams, and the decision to make pay rises is a recognition of the work and contribution of each employee to maintaining a stable situation of the company.
The financial results in the first quarters of this year and the growing potential of the multi-channel sales model are a signal for the management board that the company’s situation is stabilizing almost two years after the announcement of the pandemic.
Customers are gradually returning to shopping in traditional stores, are making well-thought-out purchases, and the collections of all brands have met their current expectations.
On the other hand, the Polish clothing manufacturer has been steadily increasing in the e-commerce channel for many months and is strengthening its position on foreign markets. As emphasized by the management board of LPP, the greatest impact on the current good situation of the company is its flexibility.
“When deciding on pay increases, as the management board of a Polish family business, we wanted first of all to appreciate the determination and commitment with which each of the employees of our headquarters and sales network together with us undertook the challenges posed by the pandemic. As a company responsible for its employees, we want to give them a sense of security, regardless of what is happening outside our organization,” said Marek Piechocki, President of the Management Board of LPP.
The LPP Group currently employs 27,000 employees, including nearly 3,000 at the company’s headquarters. Taking into account the plans for the development and strengthening of multi-channel sales in those markets where the LPP brand offer is available, next year it is planned to increase employment at the company’s headquarters by up to 750 people, especially in areas such as logistics or in teams responsible for implementing solutions IT.
LPP is a Polish family company, one of the most dynamically developing companies in the clothing industry in Central and Eastern Europe. For 30 years, it has been operating in Poland and abroad, selling its collections on 26 stationary markets, including such capitals such as London, Helsinki, Tel Aviv and Moscow. The online offer is available on 31 markets. LPP manages 5 fashion brands: Reserved, Cropp, House, Mohito and Sinsay. The company has a network of over 2,000 showrooms with a total area of more than 1.7 million m2. Based on a global supply network, the Polish clothing manufacturer distributes over 259 million pieces of clothing annually to 3 continents.
The company is listed on the Warsaw Stock Exchange as part of the WIG20 index and belongs to the prestigious MSCI Poland index.
photo credit: LPP