Theo Paphitis announced today that his new lingerie brand will be called Boux Avenue.
Boux Avenue – which had the working title of DNA Lingerie – will be positioned at the mid-market level and will be going up against high street retailers such as Marks & Spencer and La Senza, which Paphitis used to own.
The entrepeneur is aiming at the affordable luxury market, with prices ranging between £14 and £34 for a bra. Cup sizes will go up to a G.
Paphitis plans to open the first six stores in March 2011, but eventually intends to be present in 30 shopping centres. Products will also be available online at the company’s website, bouxavenue.com.
The businessman publicised his intentions on Twitter earlier today, after conducting a survey where he asked his 50,000+ followers what they thought about him making an announcement on the social networking site.
Paphitis’ followers were able to sign up and register at www.bouxavenue.com. In total, 2500 £10.00 vouchers were up for grabs. The first 500 followers that signed up won a £10.00 voucher prior to the opening of the online and retail stores. A further 2000 £10.00 vouchers will be on offer via a special prize draw.
Paphitis said: “I know that Boux Avenue will offer a fantastic lingerie and nightwear shopping experience for women who are looking for something truly special. This is what women want and will now have, both online and in retail stores nationwide. Boux Avenue will provide outstanding service and a superior fit for all women in a beautiful online and retail environment. I am delighted to be at the forefront of what I believe to be one of the most innovative and exciting lingerie launches.”