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SPECIALITY corset style bra Fashion Group has signed a 10-year licensing deal to run lingerie chain La Senza, the sister brand of Victoria's Secret. de agdfgasd123456


The corset style bra move is planned to increase earnings after reporting a 35 per cent rise in full-year net profit to $30.4 million.

Speciality chief executive Gary Perlstein plans womens bikinis sale to expand La Senza's four lingerie shops in Sydney to 15 by next June and more than 100 over the next three years. He will also expand the brand into New Zealand.

"The intimate apparel market is worth $2 billion suit underwear and is growing by 6 per cent a year. We see a big growth opportunity for our group," Mr Perlstein said.

"The market is currently dominated by department stores which sell a whole range of different lingerie brands, but is under-represented by stand-alone labels."

He described La Senza as a flirty, fresh, young and sexy brand targeting young women. La Senza is owned by US company Limited Brands.

As lingerie purchases are not subject to seasonal changes, the group's expansion into women's underwear will sit comfortably with Speciality's six womenswear brands -- Millers, Katies, Autograph, Queenspark, Crossroads and City Chic.

Speciality reported a 2.1 per cent rise in revenue to $572.2m, and earnings before interest, tax, depreciation and amortisation up 17 per cent to $60.1m.


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