Agent Provocateur, Lovehoney See Hike in Sales, Profit
LONDON — Sales of erotic sex toys and lingerie were strong in 2013, according to U.K. companies Agent Provocateur and Lovehoney, which both saw skyrocketing profits last year.
Lovehoney, seeing revenue increasing due to its exclusive license to sell "Fifty Shades of Grey" merchandise, recorded profits that tripled to £2.25 million last year, according to filings with U.K. government agency Companies House.
Lovehoney sales were strong, particularly on the web in the U.K. and internationally, rising 51 percent to £23.6 million. The London company said sales also increased after the introduction of some sex toys to mainstream retailer Boots.
Lovehoney noted a 45 percent surge in sales during Christmastime, marking the busiest month in its 11-year history.
Agent Provocateur, meanwhile, saw pre-tax profits more than double to £3.8 million in the year. Its sales rose 24.5 percent to £39 million.
Lovehoney 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."