Serial entrepreneur Theo Paphitis has announced plans to expand his lingerie chain after witnessing healthy trading over Christmas.
Boux Avenue, launched in 2011 by the former Dragon’s Den star, reported that like for like sales across its 21 stores increased 20% from 1 November to 24 December.
Paphitis plans to open 29 stores in the Middle East over the next five years and 31 in other part of the world.
The entrepreneur also owns Robert Dyas home goods and Ryman stationery, which both performed well over Christmas.
He commented: “I am delighted that all three of my retail businesses once again delivered a positive performance over the important Christmas Period.”
“Boux Avenue, which operates in some of the UK’s highest profile shopping centres, performed exceptionally well. I believe this was supported by a further improvement in our product range and an increase awareness of the brand amongst UK shoppers in the business’ third Christmas,” added Paphitis.