Coco de Mer Reports Online Sales Increase Since Brexit
LONDON — Coco de Mer is reporting an increase in online sales since Brexit.
Online lingerie sales at Coco de Mer, the company said, “have shot up by almost 40 percent in the last seven months, showing a Brexit boost for sex. One of the reasons for the surge has been sterling's devaluation since the Jun. 23 vote to leave the European Union. Coco de Mer has a high proportion of foreign customers due to its reputation as the world's most exclusive erotic brand.”
Online sales, Coco de Mer said, “are up 39 percent for the period from Mar. 1-Oct. 1 compared to the same time in 2015.”
Lucy Litwack, managing director for Coco de Mer, said, “Whatever fears people have for the future, they are not letting them interfere with their sex lives. We don't know the long-term impact and whether our Brexit will be hard or soft. (But) hard or soft, I am confident that Coco de Mer can maintain its recent growth.”
Litwack said, "Half the period of the sales surge has been post-Brexit. Coco de Mer has always been a destination store for foreign shoppers in London, and that has certainly been the case this year. They have benefited from sterling's devaluation, but we have also seen a big surge in sales from domestic customers too. Any economic uncertainty has not been impacting on luxury erotica; if anything, it has been the opposite."
Another factor in the increase in sales, according to Litwack, is the launch of Coco de Mer's Fifty Shades Darker Lingerie last month. Coco de Mer developed the range with “Fifty Shades of Grey” author E.L. James.
Litwack said, “It has been a really exciting period, and the launch of Coco de Mer wholesale has driven a lot of fresh traffic to the website….. We have also provided a bigger assortment of own brand lingerie on the site, which customers seem to like. Having a dedicated online manager has helped us to improve conversions.”