Home shopping specialist N Brown has bought online lingerie retailer Figleaves for £11.5m.
N Brown said it believed that there were “significant opportunities” to generate both sales and profit growth through managing the business as part of its wider group. N Brown owns plus size womenswear brand Simply Be, contemporary womenswear brand Marisota and plus size menswear label Jacamo.
N Brown said it would work with the existing management team to create an integration plan and look at cross selling opportunities from its clothing and footwear ranges.
Chief executive of N Brown Alan White said: “We are thrilled to welcome Figleaves to our portfolio of brands and are very excited about this acquisition which strengthens our position as the UK’s largest online retailer of lingerie.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.”
Figleaves, which was set up in 1998, sells over 100 lingerie brands. It has over 1.2 million visitors to its site each month.
In February it hired corporate finance group GP Bullhound to advise on a possible sale.