AP pursues aggressive international expansion plan

Agent Provocateur has revealed plans to launch 15 more international stores and concessions over the coming year, bringing the luxury retailer’s total to 75.

Regions in which the company is looking to expand include Europe, Asia, the US, the Middle East and Australasia.

Agent Provocateur chief executive Garry Hogarth told Lingerie Insight: “We are opening literally all over the world. It’s about finding the right locations and building on that.”

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Recent openings include Madrid and Rome, with new outlets in Barcelona, Milan, Toronto, Kiev, St. Petersburg, Kuwait, Australia, China and Macau all set to launch in the coming months.

Next year, Agent Provocateur is set to open around 20 more stores, bringing the total up to about 95 shops and concessions. The retailer is also presently seeking a location for a flagship store in London in a bid to grow its domestic portfolio.

Agent Provocateur’s concessions in Harrods and Selfridges are currently its most lucrative retail platforms in the capital.

“The shops all make money,” Hogarth said. “It’s just finding the right sort of areas.”

Agent Provocateur’s like for like sales have increased by 10 percent over the past year. The new stores are expected to be self-funded and to not rely upon external investment.

Agent Provocateur is owned by private equity company 3i. 3i chairman Michael Queen resigned, last week, after three years with the business.

The move reportedly took place as shareholders of the company called for a more aggressive investment strategy.

Queen will remain with 3i until his replacement is announced.

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