BusinessMichelle Mone poised for return to lingerie marketMichelle Mone OBE founded lingerie brand Ultimo in 1996Joanna Hodgson22 November 2017Serial entrepreneur Michelle Mone is set to return to the UK’s £2.3 billion lingerie industry two years after leaving the Ultimo bras empire she founded, the Evening Standard can reveal.Baroness Mone on Wednesday teased that she would be investing in a new venture, tweeting: “Major business announcement later.”It is understood she was referring to Michelle Mone Intimates, a new bras and knickers retailer she plans to launch.The investment comes just two years after the Scottish entrepreneur left the board of Ultimo and its parent after making an estimated £20 million from the firm she had co-founded 19 years earlier. The brand was famous for its cleavage-enhancing bras.Mone, known as Baroness Bra, could not be reached for comment but her decision to set up the new firm comes as the high-end lingerie market is growing in the UK and shrugging off the gloom on the High Street. Read MoreLingerie brand Bluebella set to roll-out bras across the USLingerie firm Bravissimo is ready to make it big Stateside New products range lifts sales at lingerie firm Rigby & PellerThe business is expected to be led by Mone, and is not believed to be a joint venture with her billionaire property mogul partner Douglas Barrowman.The couple’s latest venture is selling homes in Dubai paid for using bitcoin.MORE ABOUTLingerieMichelle Mone
