N Brown Group buys Figleaves for £11.5m
Home shopping company N Brown Group has acquired online lingerie retailer Figleaves.com for £11.5m.
Figleaves forecasts turnover for the year to June 2010 of £23m. It offers more than 100 brands and attracts 1.2m customers to the site each month. The business delivers to over 100 countries including the US.
N Brown will work with the existing management team to integrate and grow the business while identifying cross-selling opportunities from its other clothing and footwear ranges.
N Brown’s CEO Alan White said, “We’re 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 ecommerce proportion of our business and to extend our product offers and customer base.”
This story first appeared on newmediaage.co.uk
