Boux Avenue’s sales increased 16.6% on a like-for-like basis for the six weeks to 24 December, building on 8.9% growth in 2015.
The lingerie brand, which has 28 UK stores, is part of the Theo Paphitis Retail Group, which also includes stationery retailer Ryman and homeware specialist Robert Dyas.
Paphitis said retail in the UK is facing a perfect storm and urged the government to reform the business rates system.
He said retailers faced “changes in consumer habits, the impact of the weaker pound against the dollar and euro, coupled with increasing labour costs, the apprenticeship levy and the sucker punch in the lack of an honest and equitable reform of what is an archaic system of business rates”.
He added: “With regard to the so-called recent business rates reform, retail has changed dramatically over the years but is faced with a tax that was introduced in a different world. The facts are that footfall and activity on our high streets and town centres are in decline but businesses like ours are about to see an overall increase instead of a decrease in their rates bill in the next 12 months.”
He said the group has commissioned a new warehouse and distribution facility in Hemel Hempstead and Boux Avenue will move to a new ecommerce platform this quarter to meet the changing needs of today’s consumer.
In its fifth full year of trading ending 26 March 2016, Boux Avenue sales grew 21.5% to £44.4m, while gross profit margins increased by 2.1%. EBITDA loss reduced to £1.7m from £2.9m in 2015.
Boux Avenue, which also has 14 franchise stores overseas, has launched on Asos, Very, Littlewoods and Lipsy since the financial year end.