N Brown snaps up lingerie brand Figleaves for £11.5m

HOME shopping group N Brown is buying online lingerie company Figleaves for £11.5m, it was announced today.

The Manchester company, which has a growing online presence, has a greed a deal to buy Figleaves Global Trading, which trades as Figleaves.com.

Figleaves is one of the ultimate online destinations for lingerie, underwear and swim wear and is forecast to generate turnover of £23m for the year to June.

The deal will consolidate N Brown’s position as the UK’s number one online lingerie retailer and also expands N Brown’s brand portfolio to appeal to both a younger and a more ‘premium’ demographic group.

Alan White, chief executive of N Brown 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.com offers its customers the largest range of lingerie and underwear brands with over 100 brands in sizes ranging from AA to K cup and 28”-56” back size.

More than1.2 million customers visit the website each month and the business delivers to over 100 countries, including the US.

N Brown said it had identified ‘significant opportunities’ to generate both sales and profit growth through managing the business as part of a broader portfolio of brands.

It will work with Figleaves’ management team to create an integration plan and activity to grow the business.