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Agent Provocateur Could Be for Sale Soon

How many lace corsets would £200 million buy you?

Agent Provocateur, purveyors of high-end lingerie for rich ladies who want to get a bit naughty, could be up for sale soon, according to a report by the New York Times.

A source tells the Times that majority stake holder, British private equity firm 3i Group, has hired Goldman Sachs to explore a potential sale. The valuation is estimated at about £200 million, or nearly $336 million at current exchange. That's a lot of fancy nipple tassels

3i Group acquired majority stake in the company in 2007, according to its website, and has helped the brand expand into 31 countries. Sales for the fiscal 2013 year amounted to £39 million ($65.5 million), with net profits of £6.2 million ($10.4 million). Those numbers suggest a healthy business, though it's certainly small compared to Victoria's Secret, which generated sales of $5 billion in fiscal 2013.

We have reached out to Agent Provocateur for comment and will update if we hear back. 

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