LPP expands Bangladesh ties as J.P. Morgan rates LPP stock Sell
Published on 10/13/2026 at 10:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- LPP expanded its Bangladesh supplier network to more than 350 partners under USD 750 million in annual contracts.
- J.P. Morgan maintained a Sell rating and a PLN 23,000 price target on October 6, 2026.
- Second-quarter 2026 revenue rose 18 percent to PLN 6.6 billion, while net profit increased 48 percent to PLN 768 million.
- LPP stock was trading at EUR 5,827.50 at Lang & Schwarz on October 13, 2026, with a PLN 47.5 billion market value.
LPP (PLLPP0000011) expanded its Bangladesh manufacturing network to more than 350 partners under annual contracts worth USD 750 million, according to bdnews24.com on October 11, 2026. On October 6, 2026, Business Insider reported that J.P. Morgan maintained a Sell rating and a PLN 23,000 price target for LPP.
Supplier network reaches 350 partners
The Bangladesh expansion gives LPP a larger sourcing base in one of its key production markets. The company said its annual contracts with Bangladeshi garment manufacturers total USD 750 million, and it operates in 47 markets through more than 4,000 stores, bdnews24.com reported on October 11, 2026.
The sourcing update adds an operational angle to LPP's growth story. A broader supplier network can support product variety and order flexibility, while the USD 750 million contract base shows the scale of the relationship rather than a one-off procurement event.
J.P. Morgan keeps a PLN 23,000 target
J.P. Morgan's Sell rating and PLN 23,000 target provide a clear counterweight to LPP's recent operating figures. Business Insider said the target accompanied the October 6, 2026 rating decision and cited quarterly revenue of PLN 6.58 billion and net profit of PLN 768 million for the quarter ended July 31.
Profit growth supports higher margins
LPP's official second-quarter release dated September 17, 2026 reported revenue growth of 18 percent year over year to PLN 6.6 billion and a gross margin of 57.7 percent, up 3.7 percentage points. Net profit rose 48 percent year over year to PLN 768 million, while EBITDA increased 42 percent to PLN 1.7 billion, according to LPP.
Three dated milestones shape the story
On September 17, 2026, LPP reported PLN 6.6 billion of second-quarter revenue and raised its full-year gross-margin target to 56.5 percent to 57.0 percent from 56.0 percent. On October 6, 2026, J.P. Morgan maintained its Sell rating and PLN 23,000 target. On October 11, 2026, LPP disclosed more than 350 Bangladesh manufacturing partners and USD 750 million in annual contracts.
What the supplier ties mean
The supplier relationship matters because LPP is scaling both physical and digital distribution. The second-quarter release said e-commerce revenue increased 16.4 percent year over year, while store sales rose 18.6 percent, giving the company two quantified growth channels rather than a single source of expansion.
Stock trades at EUR 5,827.50
LPP stock was trading at EUR 5,827.50 at Lang & Schwarz on October 13, 2026, at 10:39 a.m. CEST. The market capitalization of LPP was PLN 47.5 billion as of October 13, 2026, while the Warsaw Stock Exchange listing was quoted in PLN.
The further course of trading is shown by the continuously updated real-time quote of LPP stock.
LPP stock facts
- Company: LPP S.A.
- ISIN: PLLPP0000011
- Ticker: LPP.WA
- Primary exchange: Warsaw Stock Exchange
- Price Lang & Schwarz (as of October 13, 2026, 10:39 a.m. CEST): EUR 5,827.50
- Market capitalization: PLN 47.5 billion (as of October 13, 2026)
- Sector / Industry: Consumer Cyclical / Apparel Manufacturing
- Index membership: WIG20
Market context: Market report WIG20.
