Summers bags Knickerbox

Ann Summers has completed its expected takeover of lingerie retailer Knickerbox, buying the brand and 33 stores from receivers for an undisclosed sum (DW 31 March).

The acquisition is part of a global expansion by Ann Summers, aiming to establish franchises in Saudi Arabia, Japan and California later this year.

According to an Ann Summers spokeswoman, all Knickerbox outlets will remain as they are currently. “We are going to be keeping the brand as it is and it will be separate from the Ann Summers brand,” she says.