Agent Provocateur has reported a 30% rise in full-year profit and an 11% rise in like-for-like sales of its luxury lingerie. The retailer, which once had Kate Moss star in its vampy online video, said that online sales reached fever pitch rising 58%.
EBITDA grew from £1.2 million to £3.3 million in the year to March 2011 representing an increase of 167% on the previous year.
Garry Hogarth, chief executive, commented: “Agent Provocateur has delivered record profits in a challenging retail environment. We are in a strong financial position to develop and expand the business following the success of our investment programme over the last year. Our new stores are performing strongly and we have a number of new openings in the pipeline. We remain confident in our strategy and will continue to invest in growing our business. The focus will now be on increasing the awareness of our brand and availability of all our collections."
Agent Provocateur has 55 boutiques worldwide and plans to open new stores in Miami, Rome, Amsterdam, Madrid and Lausanne by March 2012.
Image: Agent Provocateur Campaign