The home shopping group N Brown Group Plc has grabbed the online lingerie and swimwear retailer Figleaves for about £11.5m.
The group has bought the total share capital of Figleaves Global Trading Ltd, having a sales figure of £23m for the year to June 2010.
The online group Figleaves.com deals in more than 100 brands and sizes starting from AA to K cup and size 28"-56". The site has been visited by more than 1.2 million customers and the business is spread across in 100 countries, entailing USA as well.
According to N Brown group the deal would cater its rating through Kantar Worldpanel known as UK's number one online lingerie retailer and shall stretch the brand appeal to the younger and premium target group.
The group believes that the significant opportunities arises out of cross selling and to generate sales and growth in the profit is a way out to work with the existing management team and crafting integration plan to flourish in the domain.
The chief executive of N Brown chief voiced that they excited to bring Figleaves to their domain and are feeling good regarding the acquisition which is expected to strengthen their level to become the UK's largest online retailer of lingerie.
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