Agent Provocateur Bought by 3i
The London-based lingerie manufacturer and retailer Agent Provocateur has been acquired by mid-market private-equity company 3i.
Since Agent Provocateur opened its first shop in London in 1994, the risqueacute; luxury lingerie retailer has grown to 35 stand-alone and shop-in-shop stores across the world. In addition to sexy silk and lace fashion lingerie, Agent Provocateur sells swimwear, fragrances, accessories and shoes. One of the newest Agent Provocateur in-store shops opened this year in Bloomingdale’s at the South Coast Plaza shopping center in Costa Mesa, Calif.
Both founders of Agent Provocateur— Joseph Correacute; and Serena Rees—will remain shareholders in the company.
Though Correacute; will remain creative director, Rees will not stay with the company.
The new investors will allow for Agent Provocateur’s continued store growth.
“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,” said Jennifer Dunstan of 3i partner buyouts in a statement.
Stuart Rose has been named chairman. Rose’s experience includes positions as deputy chairman and managing director of The Body Shop and chairman of The Hamleys Group, a toy-store retailer based in London. —Rhea Cortado
