Coco de Mer, the luxury lingerie and erotica fashion house, has completed the sale of the business in an MBO led by its managing director Lucy Litwack.
Litwack, who took the reins of the company in 2014, was backed by unnamed international institutional investors to buy the business from owner Lovehoney, an online lingerie and sex toy retailer.
Commenting on the buyout, she said: “The MBO and new funds provide us with a strong platform and supports our strategy to grow the business internationally at the luxury end of the market where Coco de Mer is already well positioned and has a very strong customer base.
“There are many more opportunities for Coco de Mer as we continue to develop new channels of business across a number of territories. I look forward to collaborating with new partners in the worlds of art, design and fashion.”
Litwack has 17 years’ of lingerie and luxury retail experience, having previously worked in management positions at La Perla, Victoria’s Secret, Myla, Bendon and David Beckham Underwear.
The Coco de Mer business currently operates online and from its London boutique in Covent Garden.
Last year, Coco de Mer expanded into wholesale and launched its own-brand lingerie collection at Selfridges and Harrods.
The brand recently unveiled its Icons collection in a campaign fronted by Pamela Anderson.