Luxury lingerie chain Agent Provocateur is aiming to double its sales within the next three years as it expands its store portfolio.
The retailer, which has 54 stores, said it aimed to have 100 shops within three years. Agent Provocateur will open its sixth store in Moscow in the next few months and is looking to open shops in Rome and Milan.
The chain is expanding in the US and will have 11 stores in America by this summer. The UK is Agent Provocateur’s biggest market, with the US coming second. Chief executive officer Garry Hogarth said he expects a 9% rise in like-for-like sales in the US this year.
Hogarth added: “This is all the culmination of three years of hard work, and all of the growth has been funded internally by the company.”
Last week Drapers reported that chairman Kim Winser had left the company after just 12 months at the business. Hogarth said she had stepped down on January 1 and that a new chairman would be named later in the year. “She is so great, so talented, and she helped us to build the luxury lifestyle side of the brand,” Hogarth added.