Legal firm assists N Brown Group in acquisition of major internet retailer

Legal firm assists N Brown Group in acquisition of major internet retailer

International law firm, Duane Morris has announced that a team of its lawyers served as lead counsel to internet and catalogue home shopping company N Brown Group in its acquisition of internet lingerie retailer Figleaves Global Trading Limited, which trades as Figleaves.com.

The acquisition of Figleaves, including the entire share capital, brand and website, will consolidate N Brown’s position as the UK’s number one online lingerie retailer, according to figures compiled by market researcher, Kantar Worldpanel.

Good fit to scale business

Figleaves is a major online destination for lingerie, underwear and swimwear and is forecast to generate turnover of £23 milluon for the year to June 2010. Over 1.2 million customers visit the website each month and the business delivers to over 100 countries, including the US.

The acquisition also expands N Brown’s brand portfolio to appeal to both a younger and a more premium demographic group. The board of N Brown Group has stated it believes that there are significant opportunities to generate both sales and profit growth through managing the business as part of a broader portfolio of brands.

N Brown will be working with the existing management team to create an integration plan and activity to grow the business, using the benefits of N Brown’s scale and identifying cross-selling opportunities from its other clothing and footwear ranges.