Venture Capital - Monday, November 19, 2007
Sexy Shop Agent Provocateur Sold To 3I For £60M
If you live in Europe you are probably familiar with the lingerie shop Agent Provocateur. If not, you may be familiar with them if you have watched the movie Bridgit Jones Diary. The company has an interesting pedigree. Its co-founder (Joseph Corré) is the son of former Sex Pistols manager Malcolm McLaren. He has shown every bit as much talent as his father in creating buzz over scandal.
Today 3I announced that it would pay £60M to buyout the founders' stakes. The company has ambitious growth plans. It has 30 stores in 14 countries but says it wants to grow in Japan and open more stores in the US.
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