The ex-husband of lingerie entrepreneur Michelle Mone, CEO of MJM International Ltd which owns the Ultimo brand, has set up a rival underwear company.
Michael Mone has set up his own lingerie firm, Pendulum Apparel and hired Ms Bunn, the woman who was at the centre of the couple’s divorce earlier this year, as senior designer.
In a statement, Michael Mone confirmed that his new website pendulum-apparel.com will retail "lingerie and swimwear" from an HQ in Dumbreck, Glasgow.
According to public accounts, Michael Mone owned just under 48% of Ultimo’s company shares, which was one percent more than his wife.
Michelle Mone claimed back control of the lingerie company in February when she bought her former husband’s share in the company for £24 million.