3i Group Acquires The UK Luxury Retailer “Agent Provocateur”

Just last year, European private equity company 3i bought high-end UK lingerie brand and retailer, Agent Provocateur, in a reported $120 million deal. AD has been doing well since the company was founded in 1994 by the son of Vivienne Westwood Joseph Corré and his wife Serena Rees, but things have been especially good since 3i’s acquisition. Just recently, the company set up a plan for aggressive worldwide expansion.

The company already 40 boutiques across 14 countries, and their plan is to open more stores in areas directly competing with similar shops in their niche. There are already 8 stores in the United States and AD plans on building at least 2 more: Boston and Chicago. They also have Bahrain, Geneva, Puerto Barres, Madrid, St. Petersburg, and Germany in their crosshairs.

Agent Provocateur is consistently voted one of the UK’s top ten cool brands. In addition to lingerie, the brand has launched a line of very successful fragrances and added shoes to its product range. It’s e-commerce business is one of it’s fastest growing outlets for revenue.

3i’s massive amount of cash will help Agent Provocateur grow in the face of the current economic slowdown. Without that funding, AD probably would have been cutting back instead of expanding right now.

My prediction: It’s a shame AD is in the hands of private equity, because I think it’s going to come out the other side of this economic trouble patch as the worlds leader in high-end luxury lingerie/fragrance/woman’s accessories

(via AdSavvy)