Coco de Mer plans major expansion after management buyout
Lingerie brand Coco de Mer has been acquired by its managing director in a £5 million buyout that is being backed by an unnamed Switzerland-based international investor.
No official statement has been issued but Lucy Litwack is now reported to be planning international expansion for the brand and the launch of a new label called Pamela loves Coco de Mer in time for the all-important Christmas 2017 and Valentine’s Day 2018 shopping seasons.
The company was owned by erotic gifts e-tailer Lovehoney for six years and was originally set up in 2001 by Samantha Roddick, daughter of the late Body Shop founder Anita Roddick.
Litwack, a former brand director of high-end lingerie label La Perla, has chosen to buy the firm at both a difficult and promising time for the lingerie sector.
This year Agent Provocateur went into administration and the overall retail environment is a tough one in the UK with inflation rising and consumers increasingly cautious.
But the market for lingerie specifically is seen as a growth area and Dutch giant Hunkemöller is to begin a physical store expansion programme in Britain this year.
More specific to Coco de Mer’s market, Australian firm Honey Birdette is also planning a rapid escalation of its UK business and told Fashion Network last month that it could open more than 40 stores to radically grow its UK footprint from its current three locations.
That means Coco de Mer will face major competition as it seeks to grow its own business. But it benefits from a strong name and Pamela Anderson as its brand ambassador.
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