Joe Corre, the Founder and Former Creative Genius Behind Agent Provocateur Joins Cult British Make-up Brand Illamasqua as a Formal Shareholder
LONDON, January 26 /PRNewswire/ -- British make-up brand Illamasqua announces Joe Corre as a formal shareholder and key investor today. Citing Illamasqua as 'the only brand who are doing anything different out there right now', Corre will work alongside Illamasqua founder Julian Kynaston and Creative Director Alex Box to develop the retail performance of the brand as well as exploring the business case for Illamasqua to launch a number of its own stores. Forecasts predict that the brand is set to generate a wholesale figure of GBP4 million in 2010 with retail sales at an estimated GBP7 million.
Corre's investment comes as Illamasqua launches into Bloomingdales Dubai on 1st February, following the brand's expansion into the US in July last year across 26 Sephora stores. Involvements will include Corre working with Kynaston on all aspects of the Illamasqua business and its continued growth into new markets, alongside his own projects with men's fashion brand "A Child of The Jago". Joe Corre, son of British fashion icon Vivienne Westwood, co-founded luxury lingerie retailer Agent Provocateur in 1994. The company was acquired in November 2007 by private equity fund 3i for an estimated GBP70million, with Corre remaining on as the brand's creative force until 2009.
"We know that we have turned many heads since we opened our first counter in Selfridges Oxford St back in November 08. 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", says Julian Kynaston, founder of Illamasqua.
"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! The heritage of our products and formulations show that we are the only colour cosmetic brand in the prestige market that can truly claim the word 'professional'. Illamasqua celebrates the fundamental human desire for individual self expression. I am extremely excited to be on board and helping to make it a brand to be seriously reckoned with" adds Joe Corre.
Illamasqua, the cult British make up brand is the brainchild of Julian Kynaston. Capturing the hearts and minds of all who dare to be different, Illamasqua empowers men and women to explore their alter egos. The brand launched into the UK in November 2008 with a flagship counter in Selfridges Oxford Street, and due to demand quickly rolled out to an additional seven stores across the UK and Ireland.
Kynaston founded marketing agency Propaganda in 1993, growing it to be one of the most respected and successful agencies outside London. In 2006 Julian sold a proportion of Propaganda to the board in a GBP14 million MBO. He retains a major shareholding of the business and the position of executive chairman.
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