Agent Provocateur co-founder Corre invests in Illamasqua
Illamasqua, the make-up brand created by Leeds ad agency Propaganda, has enlisted Agent Provocateur co-founder Joe Corre as a formal shareholder and "key investor".
Corre, the son of Malcolm McLaren and Vivienne Westwood, will work alongside Illamasqua founder Julian Kynaston and creative director Alex Box. Together they will work to grow the brand into new markets and "explore the business case for Illamasqua to launch a number of its own stores".
The announcement of Corre's investment comes as Illamasqua launches into Bloomingdales Dubai on 1 February. In July last year the brand arrived in America when it was stocked in 26 Sephora stores.
Julian Kynaston, founder of Illamasqua, said: “We know that we have turned many heads since we opened our first counter in Selfridges Oxford Street back in November 2008. To have turned Joe’s to the point where he really wanted to invest and become a part of the team however is an achievement and one I am very excited about.
"2010 will be another big year for Illamasqua as the brand continues to roll out globally as well as build its performance within our UK retail partners though new collections and some unexpected brand extensions."
Corre started luxury lingerie retailer Agent Provocateur in 1994. It was acquired in November 2007 by private equity fund 3i for an estimated £70m but Corre continued working with the brand until last year.
He said: “After 15 years as captain of the bountiful Agent Provocateur I recently jumped ship when it became clear to me that my adventures there were at an end.
"I had no hesitation in grasping the opportunity to join Illamasqua - a British brand like no other."
In a statement Illamasqua said it forecasted the brand would generate a wholesale figure of £4m in 2010 with retail sales at an estimated £7m.