Luxury Underwear Brand Insider Agent Will Be On Sale Soon.

According to the world clothing shoes and hats net, luxury.

The brand Agent Provocateur insider will soon be sold, private equity Lion Capital, French counterparts ETAM D e veloppement SCA (TAM.PA) and Endless become the last three round bidders.

After last year's discovery of accounting problems leading to a 39 million reduction in shareholding value, 3I Group PLC (III.L), the UK's private equity fund, will restart the sale of its British luxury underwear brand Agent Provocateur insider after 2014.

3I Group PLC has held Agent Provocateur big internal spy nearly 10 years, reaching the end of the investment period, and the brand's performance growth has slowed down rapidly since 2015. 3I Group PLC pointed out in the end of last year's semi annual report that this is because

In the context of shrinking market consumption, the

The excessive expansion played a counterproductive role.

The fund immediately reorganized the Agent Provocateur insider, not only ending the sub line brand "L" Agent by Agent Provocateur, but also closing 30% of the retail stores and reducing 30% of the headquarters staff, which involved a total of 40 people in all departments including design, sales, business and stores.

3I Group PLC also introduced the accounting problem of KPMG combing Agent Provocateur big internal spy, and replaced the chairman of the brand Chris Woodhouse (still non-executive director) in November 2016, replaced by 3I Group PLC partner Ian Ian.

The company's chief executive, Fabrizio Malverdi, is also said to have left after the paction is completed.

As early as August 2014, the fund had hired Goldman Sachs Group Inc (NYSE:GS) Goldman Sachs to make strategic assessments of the Agent Provocateur insider, exploring strategic options including sales, when it valued at about 200 million pounds.

Later, Goldman Sachs thought the brand still had much room for growth, so 3I Group PLC decided to postpone its withdrawal.

According to the world clothing and shoe net, in the 2015 fiscal year ended March 28, 2015, the revenue growth of Agent Provocateur insider has dropped from 36% in the previous year to 16.2%, earning 61 million 700 thousand pounds, while the same store sales increased by 4%, which means that the increase in revenue is mainly driven by new stores.

The brand now has 111 stores in 29 countries and regions, and chief executive officer Fabrizio Malverdi revealed that the independent stores and franchise businesses that will be closed down this year are mainly concentrated in the largest market in the US and Europe. The brand has expanded rapidly in the region in the past two or three years, but has been weak due to site selection errors and insufficient infrastructure support business.

At the same time, the brand will promote the retail development in China and Asia, and will supply the wholesalers for the first time from the autumn series.

Agent Provocateur entered the Chinese market in the fall of 2013. It not only laid the three largest luxury goods centers in the north port, but also infiltrated Chengdu and Guangzhou.

In the 2015 fiscal year, the Agent Provocateur insider recorded a core profit of EBITDA 1010 million, an increase of 5.2% over the previous year's 9 million 600 thousand pound, but the increase was significantly lower than that of 2013 and 2014 in the two two fiscal year.

Pre tax profits fell by nearly 26% to 4 million 600 thousand per annualized year, mainly due to the strategic assessment cost of 727 thousand pounds and some asset writedowns during the year.

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