LONDON — Agent Provocateur on Wednesday reported a 36 percent spike in sales in the year to March 29 to 53.1 million pounds, or $83.9 million, driven by factors including “robust” same-store sales, global store openings and the launch of the lingerie label’s L’Agent by Agent Provocateur diffusion line.
EBITDA for the year rose 54.8 percent to 9.6 million pounds, or $15.2 million, with an EBITDA margin for the year of 18 percent, versus 16 percent for the previous fiscal year. All dollar figures have been calculated at average exchange rates for the period to which they refer.
The London-based label, which is owned by private equity firm 3i, said that same-store sales in the year rose 7 percent at constant exchange rates, and that online sales rose 30 percent on the previous year.
Garry Hogarth, chief executive of Agent Provocateur said: “Agent Provocateur delivered good results in the year to the end of March 2014. Our total turnover was up 36 percent versus the previous year and our profits grew by over 50 percent for the second year in a row,” he said. “Since March we have continued to perform well with our focus on international expansion and our 100th store [the Sydney, Australia boutique] opening in December.”
During the year to March the label opened a swathe of boutiques globally, including three stores in Paris, along with stores in Cannes and Strasbourg in France; Toronto, Canada; Shanghai and Beijing in China and Perth and Brisbane in Australia. And in the months to December the label has opened a standalone L’Agent by L’Agent Provocateur boutique in New York, with L’Agent stores planned for London and Los Angeles in 2015. Agent Provocateur boutiques are next set to open in Long Island, Dallas and New Jersey in the U.S., with plans to expand in the U.S., EMEA region and Asia Pacific in 2015.