Lovisa investors are increasingly concerned about the Brett Blundy-backed jeweller’s ability to control costs as it rapidly expands its network around the world, expecting to open its thousandth store within months.

The billionaire businessman chairs the company and is its major shareholder, and with chief executive Victor Herrero has grown Lovisa into a major global retailer specialising in cheaper jewellery. In the past six months, it has opened stores in the Cote d’Ivoire, Republic of Congo and Panama, taking the number of outlets to 943 on December 29.