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Agent Provocateur like-for-likes climb over Christmas

Luxury lingerie chain Agent Provocateur has reported an 8.1% increase in like-for-like sales over the key Christmas trading period.

In the eight weeks from November 27, the retailer, which is owned by private equity backer 3i, said overall sales were up 15.2%. In the last 43 weeks sales have been up 12.5% on a like-for-like basis and 21.6% up overall.

According to reports in today’s Telegraph, celebrity fans of the lingerie retailer include US first lady Michelle Obama who is reported to have spent $50,000 (£31,794) on a recent shopping spree at the Agent Provocateur store on Madison Avenue.

As a result of positive sales growth the retailer has said that it is embarking on an aggressive expansion strategy with more than 20 new stores set to open globally this year at locations including Milan, Florence and Barcelona.

In May last year Agent Provocateur hired Debenhams finance director Chris Woodhouse as chairman saying he would bring “depth of UK and international experience” to the retailer.

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