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They bought UK s most desirable lingerie firm. then destroyed it  The son of Dame Vivienne Westwood has blamed private equity for ruining the underwear brand he built from scratch over more than a decade. Joe Corre, 53, founded Agent Provocateur in 1994 with his then wife Serena Rees after she grew bored of shopping for drab underwear. They aimed to create lingerie devoid of British prudery and with the ability to stimulate, enchant and arouse . But the pair were forced to sell a majority stake in the company to private equity house 3i to settle their divorce after splitting up in 2007. Mr Corre claimed the buyers really didn t know what they were doing after striking the £60million deal.

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