– Openings Further Expand LXRandCo Retail Network in Europe –
MONTREAL, Sept. 7, 2017 /CNW/ - LXRandCo, Inc. ("LXRandCo" or the "Company") (TSX: LXR, LXR.WT), an international omni-channel retailer of branded vintage luxury handbags and accessories, today announced that it is opening five new locations in the Netherlands throughout September 2017. The new stores will be within Hudson's Bay's first five stores in the Netherlands, beginning on September 7 with Hudson's Bay's flagship store in the bustling Rokin area of Amsterdam. The five new locations, as well as the previously announced 16 locations with an existing US partner and the five locations with House of Fraser in the UK, bring LXRandCo's existing and announced pro forma store count to 87, of which 24 are in Europe.
"We are thrilled to expand our partnership with Hudson's Bay as this iconic Canadian retailer grows internationally," said Fred Mannella, Chief Executive Officer, LXRandCo. "Expanding our retail network in Europe is a primary focus for LXRandCo and we are entering the Netherlands, our fourth European market, alongside a great partner with whom we have a track record of success. The complementary nature of the LXRandCo and Hudson's Bay brands has been evident since the launch of our first nine Hudson's Bay locations in Canada three years ago. We are confident that the success we have had with the LXRandCo vintage luxury shopping experience in Hudson's Bay stores in Canada will extend to the Netherlands."
Mr. Manella added, "Since the end of June, we have announced definitive plans for an additional 26 store openings, 10 of which are in Europe. We remain on plan to open more than 60 locations in the second half of 2017 to achieve our stated target of having more than 120 stores in our retail network at year end."
"We are really proud to have LXRandCo as a partner in our Hudson's Bay department stores," said Jacco van der Steen, Director Marketing and Merchandising, Hudson's Bay Netherlands and Inno Belgium. "We offer our guests a unique vintage concept, which perfectly fits our brand portfolio, store concept and, above all, experience for our guests."
The remaining four LXRandCo locations in the new Hudson's Bay stores in the Netherlands will open through September 30, 2017 in Rotterdam, Den Haag, Maastricht and Den Bosh.
About Hudson's Bay
Hudson's Bay Company, incorporated in 1670, is North America's oldest company and one of the fastest-growing department store retailers in the world. Hudson's Bay has grown to become Canada's most prominent department store, today operating 90 full-line locations and thebay.com. For the first time since the banner's inception, Hudson's Bay will open outside of Canada with 10 new stores in the Netherlands in 2017, and an online shopping destination at hudsonsbay.nl. This expansion will introduce a new and exciting shopping experience in the Netherlands, catering to the Dutch market. Hudson's Bay has established a reputation for quality, service, and style by offering well-edited assortments of exclusive and popular fashion, beauty, home and accessory designers and brands, as well as exclusive food concepts. It is part of the Hudson's Bay Company brand portfolio.
LXRandCo is a rapidly growing, international omni-channel retailer of branded vintage luxury handbags and accessories. LXRandCo sources and authenticates high quality pre-owned products and sells them through: a retail network of stores located in major department stores in Canada, the United States and Europe; wholesale operations primarily in the United States; and its own e-Commerce website, www.lxrco.com. LXRandCo offers pre-owned products from iconic brands such as Hermès, Louis Vuitton, Gucci and Chanel, among others, at attractive prices and seeks to appeal to the aspirational lifestyle needs of women of all ages.
Caution Regarding Forward-Looking Statements
Certain statements in this press release are prospective in nature and constitute forward-looking information and/or forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements generally, but not always, can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "could", "would", "will", "expect", "intend", "estimate", "forecasts", "project", "seek", "anticipate", "believes", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events and the negative of any of these terms. Forward-looking statements in this news release include, but are not limited to, statements concerning future objectives and strategies to achieve those objectives, including, without limitation, store openings, as well as other statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, outlook, circumstances, performance or expectations that are not historical facts. Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management, which includes assumptions about continued revenues based on historical past performance, management's historical experience, perception of trends and current business conditions, expected future developments and other factors which management considers appropriate. With respect to the forward-looking statements included in this press release, management has made certain assumptions with respect to, among other things, the Company's ability to meet its future objectives and strategies, the Company's ability to achieve its future projects and plans and that such projects and plans will proceed as anticipated, the expected growth of the Company's e-Commerce revenue, the expected number and timing of store openings in North America and internationally, entering into new and/or expanded retail partnerships in North America and internationally, the Company's ability to source products, the Company's competitive position in the vintage luxury industry, and beliefs and intentions regarding the ownership of material trademarks and domain names used in connection with the marketing, distribution and sale of the Company's products as well as assumptions concerning general economic and market growth rates, currency exchange and interest rates and competitive intensity.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.
All forward-looking statements included in and incorporated into this press release are qualified by these cautionary statements. Unless otherwise indicated, the forward-looking statements contained herein are made as of the date of this press release, and except as required by applicable law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Readers are cautioned that the actual results achieved will vary from the information provided herein and that such variations may be material. Consequently, there are no representations by LXRandCo that actual results achieved will be the same in whole or in part as those set out in the forward-looking statements.
SOURCE LXRandCo, Inc.
For further information: Jeremy Stepak, Interim Chief Financial Officer, LXRandCo. Inc., +1 (416) 301-1333; Lawrence Chamberlain, LodeRock Advisors, +1 (416) 519-4196, firstname.lastname@example.org