I'm guessing the crescent moon is to fit in with the nightwear side of things, yeah?
I like it, in all honesty. It's not something I would throw down and claim to be brilliant, but it's nice, simple and functional. I'd agree that the A needs to be tweaked a little to make the logo look less like it's 2 seperate words, I'd also tweak the colour of the moon as well as that shade of pink doesn't quite communicate luxury to me. An deep, purpley-pink would be superb, for that - just edging from a girly pink in to a regal purple, if you know what I mean? Would certainly convey the luxury side of things as well as the nightwear side of things [from the moon].
One thing - the exclusive gifts text needs to - in my opinion - fit that logo better. At the moment it's larger than the actual company name by about 7mm in width. I'd take the font size down a bit and then allign the text so that nothing is coming above the point at the bottom of the crescent.