Home shopping retailer N Brown has bought online lingerie, underwear and swimwear Figleaves for £11.5m. Internet pioneer Figleaves was founded back in 1998, and is forecast to generate a turnover of £23m for the year to June 2010. It sells more than 100 brands, has over 1.2m visitors to its website each month, and delivers […]
Home shopping retailer N Brown has bought online lingerie, underwear and swimwear Figleaves for £11.5m. Internet pioneer Figleaves was founded back in 1998, and is forecast to generate a turnover of £23m for the year to June 2010.
It sells more than 100 brands, has over 1.2m visitors to its website each month, and delivers to over 100 countries including the US. N Brown, which is best known for its plus-size and value brands Simply Be, Jacamo and Marisota, says the deal will consolidate its position as the UK’s number one online lingerie retailer.
16/06/2010
The acquisition also expands N Brown’s brand portfolio to appeal to both a younger and a more ‘premium’ demographic group.
“This acquisition strengthens our position as the UK’s largest online retailer of lingerie,” said N Brown’s chief executive Alan White. “It also demonstrates our commitment to continue to expand the e-commerce proportion of our business and to extend our product offers and customer base.”
The company says it sees significant opportunities to generate both sales and profit growth through managing the business as part of a broader portfolio of brands.
It will also working with Figleaves’ existing management team to integrate and grow the business, including cross-selling opportunities from other N Brown clothing and footwear ranges.
