Home-shopping specialist N Brown has vowed to return Figleaves to profitability next year after buying the lingerie etailer this week.
N Brown, which owns plus-size womenswear brand Simply Be, plus-size menswear brand Jacamo and contemporary womenswear brand Marisota, snapped up Figleaves for £11.5m after the etailer appointed advisers to sell it in February.
N Brown chief executive Alan White said Figleaves was “moving towards break even” and as part of the N Brown group would return to profit next year.
White said the acquisition had consolidated N Brown’s position as the largest online lingerie player and gave the group access to a younger online lingerie shopper. N Brown has a comprehensive range of online lingerie brands for women aged 30 and above, including Naturally Close, Simply Yours and Shapely Figures.
Figleaves, which is expected to reach sales of £23m in the year to June, sells to more than 100 countries, which could be leveraged for other N Brown brands.