N Brown is buying lingerie brand Figleaves for £11.5m
Figleaves is forecast to generate turnover of £23m for the year to June.
The deal will cement N Brown’s position as one of the UK’s online lingerie retailers and also expands N Brown’s brand portfolio to appeal to both a younger and a more ‘premium’ demographic group.
Alan White, chief executive of N Brown said: "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.
"It also demonstrates our commitment to continue to expand the e-commerce proportion of our business and to extend our product offers and customer base."
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