AGENT PROVOCATEUR: first store in Germany to open
AFTER several years of presence on the German market through concessions in department stores, Agent Provocateur announced the opening on 8 October of its first standalone store in that country. The 100m2 new store is located on the prestigious Kurfürstendamm in Berlin. Later, CEO Garry Hogarth told the Reuters press agency that expected expansion this year could boost turnover by around 30 per cent, to GBP 70m. He added that a second chain, to be named L’Agent by AP with prices around half of those demanded by the original chain, would open its first store this month, with other stores in Los Angeles, Moscow and London set to open before the end of the year. The new chain would also rely considerably more than the original chain on wholesale business that was expected to account for around half of its sales.
The considerable prestige of the AP brand could allow the new chain’s wholesale business to have an appreciable impact on the wholesale business of other brands operating in the same price range.