The lingerie/undergarments industry, which was, until very recently, dominated largely by the dated model set forth by Victoria’s Secret and its founder, Roy Raymond, in the 1970’s, is in the midst of a massive revamp. The traditional retail model, and the tenets underlying the making and marketing of lingerie are changing in light of an influx of new market participants aiming to innovate from the top down. Not surprisingly, the industry’s giants are swiftly falling from grace and new go-to brands are emerging.
Consider Private equity firm 3i, which made headlines recently, after reportedly hiring London-based investment bank Rothschild & Co. to sell off its troubled upmarket lingerie brand, Agent Provocateur – the label it purchased in 2007.
In the years following its launch in 1994 by Joseph Corre, son of British fashion designer Vivienne Westwood, Agent Provocateur "has never struggled to attract column inches. It has positioned itself perfectly at the place where the demimonde intersects with the high street, and 'sexy' propositions 'kinky' for a saucy two-step," as noted by UK-based publication Campaign. The brand got the royal treatment from celebrities ranging from Rihanna, who filmed a promo for the brand in 2010, and Beyoncé, who wore an Agent Provocateur bra in her widely-watched ‘Lemonade” visual album and more recently, in her Instagram pregnancy announcement – to the wildly influential Kardashian/Jenner sisters and an array of the fashion industry’s most famous models.
The company raised its profile further by enlisting the help of actress Penelope Cruz, who teamed up with Agent Provocateur in 2012 to create the lingerie company’s first-ever diffusion line, L’Agent. It has since expanded its collaborative reach with an “it” accessories label, Charlotte Olympia. Agent Provocateur also collaborated with ShowStudio mastermind Nick Knight for a “groundbreaking exploration in extending a narrative advertising campaign to also create an experimental film series.” It also kept abreast of advances in social media, launching WhatsApp campaigns, and taking to Snapchat, Periscope and Tumblr for its cheeky #KnickersForever initiative.
Further, if magazine covers (and rap lyrics, a popular alternative metric to gauge a brand’s level of visibility) are any indication, Agent Provocateur was both positioned and received favorably. This assertion is boasted, as well, by the array of copies of the brand’s most desired items. You may recall that Agent Provocateur sued ‘Made in Chelsea’ star Kimberley Garner in 2013 for allegedly copying its protected Mazzy bikini design. ASOS, Victoria’s Secret, Target, H&M, and Frederick’s of Hollywood have also come under fire for their Agent Provocateur knockoffs.
