The luxury lingerie brand Agent Provocateur has seen strong profits and turnover in the current trading results and full year results up to March 26.
Sales were up 18% year on year, rising from £26.7m to £31.4m up to 26 March 2012. Profits in that time rose 24% to £41.million.
Current trading remains strong, with total turnover up 21% in the eight months to December 8 2012, and like for like retail sales up 6%. Online sales are up 35% on the previous year.
The new diffusion line, L’Agent by Agent Provocateur, to launch in August 2013 in select department stores, is expected to bring in high profits, thanks in part to its high-profile design partners, Monica and Penelope Cruz. Agent Provocateur’s new fragrance, Petale Noir, and its Charlotte Olympia shoe collaboration have also kept the brand’s public exposure high.
The brand is trading in 67 stores worldwide, opening eight boutiques since March 2012. New boutiques are to open in Rome, Sydney, Melbourne and Munich before the end of March 2013, with further stores marked for the US, Canada, Latin America, Europe and Asia later in 2013.
Garry Hogarth, Chief Executive, said: "Agent Provocateur continues to perform strongly despite a challenging retail environment with total turnover up 21% on the previous year, demonstrating the strength of our strategy and strength of our brand. We remain focused on growing the business internationally and are excited about our future projects."