Founded in 2010, Lovisa Holdings is an Australian fast fashion jewellery chain launched by Australian billionaire Brett Blundy, former chairman of BB Retail Capital (BBRC). With around 801 stores across 39 countries including Australia, New Zealand, Malaysia, Singapore, South Africa, Spain, France, and the United States, Lovisa has also franchised stores in the Middle East and Vietnam.
In December 2014, Lovisa listed on the Australian Securities Exchange.
“Lovisa (LOV) is democratising jewellery,” Raymond said.
“It’s fashionable and attractively priced products are reaching and appealing to a larger and larger global audience.
“LOV has operations in over 40 markets and substantial white space to expand in almost all of them.
“The first half 2024 result surpassed expectations, mainly due to strong gross margins, which were supported by favourable changes to the price architecture.
“We have increased our EBIT estimate for the current year by 4%, but, for us, it’s not about the near term.
“The investor should focus on what this business could develop into in the years ahead.
“We reiterate our ADD rating and increase our target price from $27.50 to $30,” Raymond said.
Lovisa (LOV)
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