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Knickerbox founder buys Fiorucci

Former Marks & Spencer head of lingerie and beauty Janie Schaffer, nicknamed the “knickers queen” has bought Italian denim label Fiorucci.

Schaffer, who quit M&S after three months in April 2013, plans to revive the brand next year to give the label’s colourful skinny jeans a modern edge, according to The Sunday Times.

Schaffer and her business partner, former husband Stephen, took control of the brand in June after striking a deal with its owner, the Japanese trading house Itochu.

Before working at M&S, Schaffer was the chief creative officer at Victoria’s Secret, where she was responsible for all the clothing, lingerie and beauty at the US luxury brand. She had previously founded the Knickerbox lingerie chain.

The late Elio Fiorucci opened his first store in Milan in 1967.

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