Michelle Mone to make lingerie industry comeback after three-year break

Michelle Mone parted ways with the Ultimo empire three years ago.

Entrepreneur Michelle Mone has promised to launch a new lingerie brand that will be “bigger than all others”, three years after she parted ways with the Ultimo empire she founded.

Taking to Twitter earlier this week, Michelle said she will be “coming back with a bang”, launching a new brand in 2018 after “being disappointed with the industry”.

The Scottish tycoon co-founded the original Ultimo parent company MJM International with her ex-husband Michael in 1996, creating brands including Ultimo Miracle Shapewear and Miss Ultimo.

Story continues below

In 2013, following a breakdown in their marriage, Michelle bought out Michael’s share for a reported £24m.

MJM ceased trading in the same year and its assets were moved into Ultimo Brands International after Michelle forged a business partnership with Sri Lanka-based lingerie group MAS Holidings, which took an 80% in the company in 2014.

In August 2015, Michelle resigned from the Ultimo board to focus on her role as government adviser.

She was appointed by the government to conduct a review into how best to encourage start-ups in areas of high unemployment.



Related posts