Slimma is the right fit for N Brown
Ladieswear brand Slimma, based in Leek, Staffordshire, has been bought by home shopping group N Brown. Slimma has been sold alongside the Splendour lingerie mail order brand by its subsidiary JD Williams, for £800,000.
Slimma said it would continue to operate the Frank Usher and Michel Ambers brands after the disposals, adding that redundancies would be made within the group as a result of the sale.
The company reported revenues of £1.6m in the year to 2 October with profits before tax of £195,000. Splendour had sales of £300,000 and posted losses of £650,000.
The deal is conditional on AIM-listed Slimma changing its name to CDU. It is now seeking shareholder approval to do so.
Manchester-based N Brown said Slimma was a renowned brand for its JD Williams and Julipa catalogue customers. Splendour is sold through N Brown's Figleaves website and its Simply Be and Fashion World catalogues.
Earlier this month, N Brown said total group revenue rose by 4.6 per cent in the 19 weeks to 8 January, but the figure was 1.2 per cent excluding sales from its Figleaves brand. Online sales rose by 26 per cent and now account for 47 per cent of the group's total sales.
