Lovisa has outgrown its Australian and New Zealand markets, where its stores have reached maturity and are no longer being expanded. In Australia, sales fell 1.8% in the first half of 2019, as the rollout of new stores was delayed. The concept has been tested in other markets, however, including South Africa, Malaysia, and Singapore, where the number of stores is over 100. Those markets, however, are more limited due to capacity limitations.
Diva and Lovisa
In less than ten years, the fashion jeweller chain Diva has closed nearly 500 stores in Australia, but its website is now obsolete. Disgruntled consumers have taken to Facebook to vent their dissatisfaction. Diva and Lovisa have changed their supply chains and shifted focus to Lovisa stores. The anti-Diva campaign has been so intense that a disgruntled consumer can find a detailed analysis of the situation here.
After a year-long break from the retail world, Fallscheer decided to set up his own brand, called Lovisa. The brand targeted late teens and early 20s women, and Fallscheer believed there was a niche market in the fashion jewellery category. He saw an opportunity to re-invent the jewelry industry, believing that customers were already buying fashion jewellery at apparel retailers. The success of Lovisa led the company to list on the stock market in 2014.
Diva is a fashion jewellery chain aimed at young girls. Lovisa offers jewellery that suits women who are not yet ready to invest in high-end brands. The prices for Lovisa’s pieces are more expensive than those of Diva, but the quality is higher. Lovisa is not your typical costume jewellery, and it does include some gems. Whether you choose to buy jewellery from Lovisa or Diva depends on your personal preferences and budget.
The Diva jewellery chain closed many of its stores in Australia recently. As the company faced a difficult time trying to get a new identity, the staff provided various explanations for what was happening. Lovisa’s future is uncertain, but there’s no reason to despair. It has a vibrant following in Australia, but its shaky financial state has made the brand unviable. If you love jewellery, you’ll never be bored again!
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