Tesco will launch a lingerie range designed by Michelle Mone, founder of the Ultimo lingerie brand.
Tesco will launch the range, called Diamond Boutique by Ultimo, in the UK and Republic of Ireland next month as part of a potential £60 million deal.
The deal came as a surprise to the market as Michelle Mone also designs a range of lingerie for Tesco rival Asda. The Asda collection is called Michelle for George.
It is understood that Tesco could launch the Michelle Mone-designed range globally if it is successful in the UK and the Republic of Ireland. Tesco is understood to be lining up a celebrity face for the Diamond Boutique range.