Sports Direct International (SDI) has moved to clarify its role in the acquisition of Agent Provocateur, a lingerie brand. The group said that, contrary to some press reports, the brand was not acquired by SDI but by Four Marketing, a branding agency in which it has a shareholding of 25 percent. It further denied reports that it had paid £35 million (€40.1m-$42.8m) for a stake in Four Marketing two years ago, adding that it had in fact paid £8.75 million (€10.0m-$10.7m). The deal around Agent Provocateur caused some controversy, after reports that it was bought by SDI in a pre-packed administration, a form of bankruptcy proceedings, when its private equity owner failed to secure a buyer. Even though SDI clarified that it doesn't own Agent Provocateur, the purchase has been interpreted as a means for the company to raise its profile with access to another upmarket brand, particularly for its USC and Flannels stores. SDI recently acquired a stake of 11 percent in French Connection.

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