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Intimas sees red as profits slide

Lingerie group Intimas will strengthen its distribution channels to bring it back into the black, after sales tumbled and it posted a loss for the first half of the year.
Intimas reported pre-tax losses of £2.21 million for the half year to June 30, on profits of £156,000 last year. Sales fell 17% to £6.97m.

The supplier said it would focus on store openings and private-label sales to complement its branded wholesale arm, which includes the Lepel and Charnos brands and accounts for about 70% of business.

Chief executive Carol Duncumb said any business focused on wholesale would be tested in the future. “A successful business must be underpinned by a solid strategy. We can’t be held hostage to fortune,” she said.

Duncumb blamed the loss on costs associated with growing the management team and a foray into retail. It will open in Nottingham and Derby this year. She said the private label had been “re-energised”, after adding M&S, House of Fraser and Bravissimo to its client list.

The group is now HoF’s sole supplier of private-label lingerie.

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