Lovehoney acquires fellow sex toy retailer Amorana

// Lovehoney buys majority stake in online Swiss retailer Amorana
// Amorana sells sex toys, lingerie, as well as educational information

Lovehoney has acquired a fellow Swiss online sex toy retailer after achieving strong growth internationally.

The British retailer completed its acquisition of a majority stake in Amorana, but financial details have not been disclosed.

Amorana sells sex toys, lingerie, as well as educational information. It has a local Swiss warehouse and support operation to offer quick delivery and expert advice.

READ MORE: Boots to sell Lovehoney & So Divine sex toys

Meanwhile, Lovehoney is a global direct-to-consumer brand and ecommerce business, and said it has achieved strong growth internationally and holds leading market positions on three continents.

Richard Longhurst and Neal Slateford founded Lovehoney in 2002 and remain significant shareholders.

Since 2018, Lovehoney has been majority-owned by Telemos Capital, a private investment firm based in London, UK.

Following the acquisition, Amorana is expected to further cement its financial position and expand into other European countries.

Amorana founders Lukas Speiser and Alan Frei will remain in their roles as chief executive and chief marketing officers respectively and will continue as shareholders of the company.

“We are delighted to add Amorana to the Lovehoney Group. Lukas and Alan have done a great job growing Amorana to the strong position it is in today and we are confident that Lovehoney can help on the next leg of this exciting journey,” Slateford said.

More:  Retailers demand inquiry into Christmas & Brexit transition ports chaos

Speiser said: “In just six years, Amorana has grown from a small start-up to the leading Swiss online supplier of lifestyle and sexual wellness products.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post Lovehoney acquires fellow sex toy retailer Amorana appeared first on Retail Gazette.

More from: | Category: M&A News