The Prospect Of The Big Spy Is Looking For Sale.

London's luxury is affected by blind expansion.

brand

The prospect of the big insider is not good. According to the world clothing and shoe net, Agent Provocateur is seeking sale, valued at about 15 million pounds (about 128 million yuan), but until now, the company has not responded to the news.

According to the world clothing shoes and hats net, at present,

3I, the main holder of private equity fund, has invited Rothschild investment bank, KPMG consulting and Alix Partners restructured company to prepare for the sale. However, the sale is not the only option for 3I companies. The company is also looking for new investors.

Agent Provocateur was co founded by Vivienne Westwood's son Joseph Corre and wife Serena Reese Reese in 1994.

In 2007, 3I bought Agent Provocateur 80% stake at 60 million pounds to become the main holder of the brand.

Agent Provocateur announced its strategic mistakes earlier. The group finally decided to close 30% of its retail outlets, gradually reduce its subordinate branches, and lay off 30% of its headquarters.

3I stressed that Agent Provocateur is still a valuable brand. It has further injected 4 million pounds in September 30th last year to support the new management team restructuring strategy. However, due to various negative factors, 3I has lost more than 39 million pounds to the value of Agent Provocateur.

This is not the first time that Agent Provocateur has been sold. As early as 2014, 3I hired Goldman Sachs to make a strategic assessment of the optional financial arrangements for Agent Provocateur, including the overall sale, but eventually abandoned the sale plan.

Some analysts have pointed out that the embarrassment of Agent Provocateur, which has been very popular for a time, is mainly due to its strategic mistakes such as overly blind global expansion, and its financial problems need to be solved.

As of March 28, 2015, Agent Provocateur's operating income was 62 million pounds, or $94 million 800 thousand, and its pre tax profit was 10 million.

At present, the products of Agent Provocateur are sold in 111 stores and sold through Net-a-Porter.com in 29 countries.

According to fashion headline data, Agent Provocateur has 13 stores in Greater China, including 2 shops in Shanghai, Beijing, Macao and Chengdu, 1 shops in Guangzhou and Macao, and 3 in Hongkong stores.

Agent Provocateur points out that most of the independent stores and franchises in the US and Europe will be closed down next year. In the past two or three years, the group has opened up the brand in a relatively poor way and has not been able to attract enough customers and rewards.

Earlier, 3I hired Goldman Sachs to review Agent Provocateur's business and found that the brand was suspected of exaggerating profits. The original chief executive, Garry Hogart, resigned.

Last February, Dior Homme former executive Fabrizio Malverdi became the new CEO of Agent Provocateur.

China's wealthiest classes are concerned about underwear and their clothes. The high-end underwear brands from all over the world pour into the Chinese market.

According to company information, the United States is the largest market for Agent Provocateu, while the United Kingdom ranks second.

Fabrizio Malverdi believes that China has special market potential.

The growth of China's luxury market has been frustrated, but the luxury high-end underwear market is an exception, but international brands and local competitors are also increasingly competitive in the high-end underwear market.

The secret of American underwear brand Vitoria will open its first underwear flagship store in China, including Italy brand La Perla and German Triumph Ttiumph are increasing the number of stores and expanding the market share in major cities of China. According to the data of Mintel group, the value of underwear market in China's first tier cities will double to 18 billion US dollars in five years.

According to a recent interview with RTG Consulting co-founder Angelito Tan, luxury underwear in 2015 accounted for 1/3 of the total underwear business's turnover of US $20 billion.

It is noteworthy that La Perla, a rival of Agent Provocateur, is also adjusting its strategy. It plans to make clothes as a breakthrough, and then pform into lifestyle brands in accessories and shoes.

La Perla Asia CEO Chiara Scaglia also said earlier: "luxury is not bought to show off, it is used to enhance consumers' good personal feelings".

In August last year, Pedro Lourenco, the brand creative director who was not in office for 6 months, came out, and the female designer Julia Haart took his place.

Up to now, La Perla operates around 215 stores worldwide, and expects to achieve 30% profit growth in the current fiscal year. In 2014, La Perla announced a profit of 112 million euros, with 14 stores in Greater China, but the pace of opening up has slowed down since 2016.

More interesting reports, please pay attention to the world clothing shoes and hats net.