Ann Summers to sell Knickerbox
Ann Summers has appointed KPMG to sell its Knickerbox lingerie brand.
Founded in 1986, Knickerbox was bought by Ann Summers in 2000 at which time the company reported a £5 million loss.
Since then Ann Summers has taken the store chain online and sold its lingerie through its Ann summers parties.
According to The Telegraph, Tesco and Debenhams are understood to have shown early interest in the brand as means of growing their underwear offerings.
David McCorquodale, head of retail at KPMG, told the newspaper: “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 sector of its customer base than its current positioning.”
Ann Summers chief executive Jacqueline Gold added: “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.”
