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UK sexy lingerie dresses sales of lingerie and sex toys hold up despite the downturn
UK sexy lingerie dresses sales of lingerie and sex toys hold up despite the downturn
Agent Provocateur saw pre-tax profits sexy lingerie dresses more than double from £1.7m to £3.8m in the year to March 2013. Photograph: Alicia Canter for the ObserverBusinessUK sales of lingerie and sex toys hold up despite the downturnLovehoney's profits treble in the year to March 2013 while Agent Provocateur sees pre-tax profits more than double
There may be an economic downturn, but shoppers are still finding cash to spend on a quiet night in, with sexy lingerie dresses company Agent Provocateur and sex toy firm Lovehoney both seeing sales and profits boom last year.
Lovehoney profits trebled in the year to 31 March 2013, boosted by its exclusive licence to sell Fifty Shades of Grey merchandise.
The company recorded profits of £2.25m as turnover increased 51% to £23.6m over the year amid strong sales at its web sexy lingerie dresses stores in the UK and abroad and the introduction of its sex toys, including its retro-inspired Swoon range, to mainstream retailer Boots.
Lovehoney enjoyed a 45% surge in sales over Christmas, marking the busiest month in its 11-year history.
Co-founder Neal Slateford said: "As the switch from the high street to online gathers pace, we have been very effective in becoming the leading online destination for sexual happiness shoppers."
Meanwhile, sexy lingerie dresses retailer Agent Provocateur, which has boutiques from London to Hong Kong, Berlin and San Francisco, saw pre-tax profits more than double from £1.7m to £3.8m in the year to March 2013, according to accounts filed this week at Companies House. Sales rose 24.5% to £39m.
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