– First Location Opens Today,
August 25, at Flagship House of
Fraser Store on Oxford Street,
London –
MONTREAL, Aug. 25, 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 it is opening its first
stores in the United Kingdom under
a recently established agreement with iconic British department
store, House of Fraser ("HoF") that will see LXRandCo locations
opened in five of HoF's top performing stores. The first
LXRandCo location opens today, August
25, at HoF's London
flagship store on Oxford Street, one of the busiest shopping
streets in Europe.
"We are honoured to partner with a retailer with the history and
reputation of the UK's House of Fraser to bring the vintage luxury
shopping experience to their clientele," said Fred Mannella, Chief Executive Officer,
LXRandCo. Inc. "Our agreement with HoF, our sixth retail
partner and first in the UK, further underscores LXRandCo's
compelling value proposition to major retailers internationally.
Our vintage luxury product offering celebrates the iconic nature of
luxury brands, while embracing the rapidly emerging trend of reuse
and extension of product lifespans. Shoppers from around the
world flock to Oxford Street in London, which makes the HoF flagship store
there the ideal location for our first opening with this new
partner."
Mr. Mannella added, "The remainder of 2017 will be a very busy
period for us. We are on plan to double the size of our
current retail network in the second half of the year, opening more
than 60 additional locations with both existing and new retail
partners, to enter 2018 with an international network of more than
120 stores."
LXRandCo will open the remaining four House of Fraser locations
in Guildford, Manchester, Edinburgh and Leeds, throughout the remainder of August and
September 2017.
About House of Fraser UK
House of Fraser is a department store group with 59 enviable
locations across the UK and Ireland. As one of the best known names on the
high street, House of Fraser has presented customers with an
unrivalled nationwide department store for over 165 years. In
December 2016, House of Fraser opened
its first international store in Nanjing, China. The House of Fraser Group, in the UK
and Ireland, has annual sales of
£1.3bn and employs over 6,000 House of Fraser employees and 11,500
concession staff through over 4 million sqft of selling space.
Customers can shop at House of Fraser from
http://www.houseoffraser.co.uk.
House of Fraser (UK & Ireland) Limited (formerly Highland Group
Holdings Limited) is the parent company of the House of Fraser
business in the UK and Ireland. It
is 89% owned by House of Fraser Group Limited, which is also the
parent company of House of Fraser's operations in China (the remaining 11% interest in House of
Fraser (UK & Ireland) Limited
is owned by West Coast Capital (HOF CO) Limited). Nanjing Cenbest,
a listed company in China is the
Group's ultimate parent company, following the acquisition on
2 September 2014.
About LXRandCo
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 [and men?] of all ages. As at June 30, 2017, LXRandCo's retail network
consisted of 61 stores with nine located in Canada, 38 in the
United States, 10 in Germany and four in Belgium. LXRandCo has offices in Montréal,
Québec, and Tokyo, Japan.
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 include, but are not limited to,
statements concerning the financial results and condition of the
Company, expectations regarding market trends, overall market
growth rates and the Company's growth rates, future objectives and
strategies to achieve those objectives, including, without
limitation, store openings, store productivity, margin improvements
and e-Commerce penetration 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 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 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. By their nature, forward-looking
statements involve known and unknown risks and uncertainties and
other factors that could cause actual results to differ materially
from those contemplated by such statements. Factors that could
cause such differences include, but are not limited to, those
factors described under the heading "Risk Factors" in Gibraltar Growth's final non-offering long
form prospectus dated May 12, 2017
and as described from time to time in the reports and disclosure
documents filed by the Company with the Canadian securities
regulatory agencies and commissions. Such list of risk factors is
not exhaustive of the factors that may impact the forward-looking
statements. These and other factors should be considered carefully
and readers should not place undue reliance on the forward-looking
statements in this press release. As a result of the foregoing and
other factors, there can be no assurance that actual results will
be consistent with these forward-looking statements.
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.