Dutch lingerie firm Hunkemoller attracts private equity interest – sources

FRANKFURT, July 9 Dutch lingerie maker
Hunkemoller has caught the eye of several private equity groups
in a potential deal worth roughly 500 million euros ($553
million), three sources familiar with the matter said on
Thursday.

Carlyle, CVC and Apax are expected to hand in final bids
later this month for the group, which employs Dutch model and TV
personality Sylvie Meis in its marketing and has over 600 stores
in 16 countries from Spain to Saudi Arabia.

Hunkemoller has earnings before interest, taxes,
depreciation and amortization of about 50 million euros and any
buyout could be backed with around 300-350 mln of debt
financing, the people said.

Listed retail fashion companies such as HM,
Inditex, Next, Marks and Spencer and
Esprit trade at an average of 11 times their expected
core earnings. Hunkemoller’s private equity owner PAI hopes to
sell at a similar multiple, one of the people said.

PAI put the retailer, which began as a corset shop in
Amsterdam in 1886 and is now the largest high-street lingerie
brand in the Benelux region, up for sale earlier this year and
tasked JP Morgan with organising an auction.

Although the brand with products like the “Diva” and “Candy”
bras is based in the Netherlands it makes about half of its
sales in Germany where it is the largest lingerie chain with 185
stores as of February 2014.

PAI bought Hunkemoller in 2011 for 265 million euros. In a
2014 company report, Chief Executive Philip Mountford said the
chain was a 400 million-euro business.

The brand has been expanding aggressively, with its chief
focus on Germany, Austria and Sweden, and is planning forays
into Asia. Sales have grown around 10 percent each year since
PAI’s investment in 2011.

Carlyle, Apax and PAI declined to comment, while CVC was not
immediately available for comment.
($1 = 0.9046 euros)

(Reporting by Arno Schuetze and Claire Ruckin; Editing by
Edward Taylor)

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Nubian Skin, The Nude Lingerie Line For Women Of Color, Debuts At Nordstrom

Models In Nubian Skin Lingerie. Image via @nubianskin on Instagram.

Last October, British-born former financier Ade Hassan took on the task of providing women of color with realistic nude lingerie options with the launch of Nubian Skin. Up until recently, the UK-based company sold their products exclusively via their own website. As of this week, the brand is officially being stocked by American fashion retailer Nordstrom. Shoppers can now head to their local department store or online to select from a total of four items, including the Nubian Skin convertible strapless bra, mid rise briefs, underwire t-shirt bra and seamless thong in Berry, Cafe Au Lait, Caramel, and Cinnamon colors. According to Global Grind, the retailer plans to gradually expand their selection. For more on Nubian Skin, read the brand’s full about section below.

“A nude bra and skin tone hosiery are the basics of every woman’s wardrobe, at least in theory. For many women of colour, finding suitable skin-tone hosiery and lingerie has not been an option. Frustrated by the lack of skin-tone choices to go with her ever-expanding wardrobe, Nubian Skin founder, Ade Hassan, decided it was time for ‘a different kind of nude’.

Inspired by trail blazing women, Eunice W. Johnson and super model Iman, who created Fashion Fair and Iman cosmetics, Ade took the leap and created Nubian Skin. It’s been an uphill battle, but every revolution starts somewhere.

Nubian Skin launched with a carefully edited collection of lingerie and hosiery to provide the essential underwear needs of women of colour. Headquartered in London, Nubian Skin delivers worldwide and looks forward to growing the company’s offering and expanding its reach.

So for all you beautiful women, next time you need a nude pair of hold-ups or maybe a nude strapless bra to go under that stunning white halter dress, Nubian Skin is only a few clicks away.

Empowering Women. Embracing our Colour.”

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