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3i acquires Agent Provocateur
17 Nov '07
3 min read
3i, Europe's leading mid-market private equity company, and funds managed by 3i have signed an agreement to acquire Agent Provocateur, the luxury brand lingerie retailer.
Agent Provocateur was founded in 1994 by Joseph Corré and Serena Rees and has firmly established itself as a leading player in the luxury brand lingerie market. The brand is known for its edgy, yet fun, image and has consistently been voted one of the UK's top 10 cool brands.
Agent Provocateur products can be found across 14 countries, including the USA, Europe and the Middle East. In addition to lingerie, it has launched highly successful fragrances and has recently added shoes to its existing product ranges. The company also has a fast growing e-commerce business.
3i's funding will allow Agent Provocateur to pursue further growth opportunities. Whilst both the founders will continue to be shareholders in the business, Serena Rees has decided she wishes to pursue new opportunities. Joseph Corré will be staying with the business as Creative Director.
3i has introduced Stuart Rose as Chairman. Stuart has gained extensive experience of international retailing, franchising and brand development from his time at The Body Shop, where he held the positions of Deputy Chairman and Managing Director. Amongst his current activities, Stuart is Chairman of The Hamleys Group, which is fast developing an international presence.
Jennifer Dunstan, 3i Partner Buyouts, commented: “We are delighted to be investing in such a unique and exciting brand as Agent Provocateur. The company has a fantastic reputation and is already well established throughout Europe. We believe there is enormous potential for the business to continue to grow and look forward to using both our retail experience and our global network to help Agent Provocateur achieve this ambition.“
Agent Provocateur was founded in 1994 by Joseph Corré and Serena Rees and has firmly established itself as a leading player in the luxury brand lingerie market. The brand is known for its edgy, yet fun, image and has consistently been voted one of the UK's top 10 cool brands.
Agent Provocateur products can be found across 14 countries, including the USA, Europe and the Middle East. In addition to lingerie, it has launched highly successful fragrances and has recently added shoes to its existing product ranges. The company also has a fast growing e-commerce business.
3i's funding will allow Agent Provocateur to pursue further growth opportunities. Whilst both the founders will continue to be shareholders in the business, Serena Rees has decided she wishes to pursue new opportunities. Joseph Corré will be staying with the business as Creative Director.
3i has introduced Stuart Rose as Chairman. Stuart has gained extensive experience of international retailing, franchising and brand development from his time at The Body Shop, where he held the positions of Deputy Chairman and Managing Director. Amongst his current activities, Stuart is Chairman of The Hamleys Group, which is fast developing an international presence.
Jennifer Dunstan, 3i Partner Buyouts, commented: “We are delighted to be investing in such a unique and exciting brand as Agent Provocateur. The company has a fantastic reputation and is already well established throughout Europe. We believe there is enormous potential for the business to continue to grow and look forward to using both our retail experience and our global network to help Agent Provocateur achieve this ambition.“
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