The home shopping business N Brown Group has bought the lingerie website Figleaves.com for £11.5m. The new owners say that this move will make them the largest lingerie seller in the UK. Its previous owners were Figleaves Global Trading company. This popular website lists almost hundred brands and the site is immensely popular as obvious by its 1.2million customer visits per month.
Through this portal, one can get their favourite lingerie delivered at their doorsteps anywhere in the world. This year the company has bought several other sites and the company executives say that the e-commerce accounts for almost 39% of their sales now. These acquisitions are intended to bring newer customers and help them expand into the cross selling of shoes and clothes as well in the future.
Alan White, chief executive of N Brown, says, “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.”
Both the companies have a different clientele, with figleaves tilted to the more upmarket side and N Brown Group to the more middle class. This will probably be successful in enlarging the company’s client base. Fingers crossed!