Agent Provocateur CEO steps down after 10 years
British lingerie label Agent Provocateur announced the departure of Garry Hogarth, who was CEO of the company for 10 years, to pursue new challenges and opportunities.
Chris Woodhouse, non-executive Chairman of Agent Provocateur, will be acting Chief Executive until a new officer joins in April. He said: “During his 10 years as Chief Executive, Garry has developed Agent Provocateur into a global, luxury brand.”
“Following the conclusion last year of a strategic review of the business, Agent Provocateur is entering an exciting new phase of its growth and we are convinced that the next decade will be as bright and successful as the last. Garry leaves the business with our best wishes and I am sure that he will be a success in whatever he decides to do next.”
Under Gary Hogarth’s leadership, Agent Provocateur increased EBITDA by a factor of five to over £10 million. During the period, the company also expanded its global footprint with new market entries and launched the Soiree and L’Agent ranges.
Gary Hogarth said: “I am incredibly proud of what we have achieved during the 10 years I have been CEO and would like to thank all of our colleagues for their continued commitment and dedication to the business, all of which have made it what it is today.”
Although Hogarth's successor has not yet been named, the company stated they will take on the role as of April.
Since March 2015, Agent Provocateur has opened 15 boutiques in six countries and is now in a strong position to drive further growth. In 2014/15 the brand performed strongly with revenue up to £61.7 million, and EBITDA growth to £9.6 million.
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