(Filed Under Fashion News). N Brown Group plc has significantly expanded its intimate apparel offerings. The British home shopping giant has acquired the entire share capital of Figleaves Global Trading Ltd. for £11.5 million, equivalent to approximately $17 million at the current exchange rate. Figleaves Global Trading runs Figleaves.com, one of the UK’s largest e-commerce site specializing in lingerie, underwear and swimwear.
According to N Brown, FigLeaves.com is projected to generate approximately £23 million, equivalent to approximately $34 million, for the fiscal year ended in June 2010. The site carries over 100 brands, including Freya, Triumph, Elle Macpherson and Chantelle, in bra sizes 28 to 56, AA to K. N Brown reported that over 1.2 million customers visit the website per month. The site delivers to over 100 countries, including the U.S. and Canada.
According to Kantar Worldpanel, with this acquisition N Brown will position itself as the UK’s premier online lingerie retailer. N Brown is also expanding its brand portfolio with styles that appeal to a younger demographic.
“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,” Alan White, chief executive of N Brown, said. “It also demonstrates our commitment to continue to expand the e-commerce proportion of our business and extend our produt offers and customer base.”
In addition to intimate apparel, N Brown’s home shopping catalog and Internet division sells apparel, footwear and household and electrical goods.
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