Boux Avenue is a lingerie retailer that was established by retail entrepreneur and former Dragons’ Den star Theo Paphitis in 2011.
It has been able to build its store network around the current multichannel world and has a credible nationwide presence with around 30 stores.
With the bottom line coming under increased pressure from rising costs, management kicked off a strategic and operational review of the business at the beginning of 2020 to “realign costs to a more sustainable basis”. WIth the busines stabilised, the retailer has been aiming to drive growth through all trading channels, but with a particular focus on ecommerce.
Boux Avenue posted an encouraging set of results for the year to end-March 2022 (FY2021), with total sales surging 43.2% to £67.1m, with online proving less resilient than stores. Losses continued to reduce during the financial year.
Although the retailer files separate accounts, it shares some central resources, including IT and ecommerce facilities, with Paphitis’ other retail interests: stationery business Ryman and the Robert Dyas hardware chain.
Innovation rating: 2