Sex-toy retailer Lovehoney has bought luxury
erotic brand Coco de Mer. The deal gives
Lovehoney a presence on the high street through Coco de Mer
stores, selling lingerie, sex toys, jewellery and erotic art.
Lovehoney will invest in the Covent Garden store and extend Coco
de Mer’s range of own-brand products for sale direct to retail
customers in the UK and leverage Lovehoney’s distribution and
fulfilment network in Europe, USA, Australia and Asia. The new
owners will also overhaul the company’s online operation while
maintaining the look and feel of the brand. Coco de Mer founder
Sam Roddick remains with the business in an informal role,
advising on positioning and product development. The deal was
created and negotiated by Ranjit Singh, Coco de Mer’s chief
executive, who was brought into the company a year ago in order
to restructure the business ready for a sale.
Furniture retailer Dwell announced that in the
year to January 2011, sales grew 34 percent to £33.4
million. EBITDA was £1.1 million, compared with a £1.2
million loss the previous year, due to a warehouse consolidation.
Further, pretax losses narrowed from £4.5 million to
£356,000. Managing director Aamir Ahmad attributed last
year’s growth to a store-opening programme, strong online sales
and a focus on product development. For this year, Ahmad
estimates to grow the business by 10 percent.
Online giant eBay has acquired recommendation
platform Hunch for an undisclosed sum. Hunch
uses prediction technology to present customers with customised
recommendations based on their tastes. It uses data from around
the web, including from social networks like Facebook and from
questionnaires, to make personal recommendations. Following the
acquisition, eBay’s customers will receive recommendations for
items available on eBay based on their specific tastes.
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