COMMENTING on the opening of the first Boux Avenue store in central London, a 278m2 outlet on prime shopping venue Oxford Street, owner Theo Paphitis said: “This is where you get the major footfall and tourists visiting from all over the world. This store will be the shop window for the world and set us on the right foot to expand.” He then revealed plans to open five new UK outlets in 2016 and to open 500 stores in other countries within the next seven years. Currently, the chain consists of 28 stores in the UK and 11 in other countries.
Coming from anyone else, such ambitious expansion plans would have to be taken with a pinch of salt. But the track record of Paphitis in lingerie and in retailing is such that his comments merit being taken very seriously.