Coco de Mer sold to Lovehoney
The new owners will extend Coco de Mer’s range of own-brand products for sale direct to retail customers in the UK and leverage Lovehoney’s distribution and fulfilment network in Europe, USA, Australia and Asia.
They will also invest in extending Coco de Mer’s flagship Covent Garden store and overhaul the company’s online operations.
In a statement Roddick said that selling the business was a difficult decision. However, she will stay on to take an informal role within the company, advising on positioning and product development.
Roddick and her father Gordon owned the majority of the company with Eurythmics star David Stewart owning just under 5%.
The price paid for Coco de Mer has not been disclosed but is expected to be in excess of £2 million.
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