I'd definitely make it more upscale. As other's have said, I'd want it to be a comfortable place to shop. I'd make it a few stories high, perhaps in an old victorian house.

Make the first floor a book store/ reading room/ coffee shop. Sort of a smaller, more intimate erotic Barnes and Noble.

Then the next floor perhaps lingere and romantic musings. Things like massage oils, candles, and the like.

Then on the third floor I'd put all the toys.

Oh, and Lilith....you might want to check out the basement...there would be a few goodies down there for you! Special things of iron and leather, rope and rubber.....

As far as a name...hmm...I think it would be something exotic and obscure....open to suggestions though.