Sainsbury’s denies Knickerbox acquisition talks

Sainsbury’s has denied industry rumours that it is in talks to buy Knickerbox from Ann Summers.

Speculation arose last week that the supermarket chain was set to hold discussions about acquiring the underwear brand, which has been up for sale for almost a year.

But Sainsbury’s told Lingerie Insight that suggestions it is looking to buy the business are wide of the mark. In an emailed statement yesterday, a Sainsbury’s spokesperson said: “I’m told that this is incorrect. [I] can confirm that talks are not ongoing.”

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Ann Summers put up Knickerbox up for sale in March last year in order to concentrate on its core lingerie offering.

The high street retailer, which bought Knickerbox in 2000, enlisted accountants KPMG to head up the sales process.

A spokesperson for Ann Summers told Lingerie Insight that the business continues to attract interest from potential suitors, but stressed that Sainsbury’s wasn’t one of them.

“I can confirm that Ann Summers have interest from brands wanting to acquire Knickerbox, but cannot confirm that one of those is Sainsbury’s.”

Ann Summers said last year that it has made the “strategic decision” to sell Knickerbox in order to focus on the brand’s “unique lingerie proposition” and wider product offering.

Ann Summers CEO Jacqueline Gold commented at the time: “Knickerbox has been a very successful part of the Ann Summers brand for over 13 years and we have made this decision as part of a wider strategic plan that we believe will allow us to experience continued growth and brand development.”




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