The popular and well-known lingerie retailer Boux Avenue has announced steps forward have been taken following its strategic review back in 2019.
Total sales at the lingerie retailer increased by 9.1 per cent in the year to 31 March 2021 compared with the same period in 2019. Underlying EBITDA losses reduced to £3.5M, from the previously reported loss of £14.9M – an underlying improvement of £11.4M.
Theo Paphitis, Chairman of the Theo Paphitis Retail Group, which comprises Boux Avenue, Ryman and Robert Dyas said: “Boux Avenue has made excellent progress in the last financial year and had a strong Christmas, with the investment in e-commerce and product development in particular enabling this performance. Having come through a difficult period, our strategic review and implementation of this has seen the business well set for the future. Our customers have responded positively to our ranges and demonstrated their loyalty to the brand through switching between channels.”
In the financial update, the Theo Paphitis Retail Group said its “strong growth” shows its resilience through the pandemic, and how its stores and online business have “worked together”.
