Ann Summers puts Knickerbox brand up for sale
Underwear retailer Ann Summers has confirmed it is putting its Knickerbox brand on the market to revitalise the more risqué side of the business.
Jacqueline Gold
Ann Summers bought Knickerbox, which is made up of more comfortable and feminine lingerie in 2000, and integrated the brand into its 143 stores, online and Ann Summers party business.
The retailer said the decision to sell Knickerbox was in order to focus on its “unique” lingerie proposition and wider product offering.
Jacqueline Gold, CEO commented: “Knickerbox has been a very successful part of the Ann Summers brand for over 13 years and we have made this decision as part of a wider strategic plan that we believe will allow us to experience continued growth and brand development.”
Ann Summers’ pre-tax profits rose by 43 per cent in 2012 to £4m on the back of increased sales, thanks to a boost from erotic novel Fifty Shades of Grey.
David McCorquodale, head of retail at KPMG accounts who is handling the sale said: "The Knickerbox brand has a strong identity and a respected market position. We can envisage the brand sitting with a retailer, pure player or brand owner who can reach a broader section of its customer base than its current positioning."
The announcement comes after the retailer appointed its marketing brief to Propaganda to develop new campaigns and promote new product lines.