The race for Hunkemöller continues with 3 new contestants

The race to take over Dutch lingerie giant Hunkemöller continues, in spite of industry speculation earlier last month claiming US private equity firm Sycamore Partners was close to sealing the deal.

Three candidates are said to be interested in acquiring the lingerie brand, and Sycamore is not among them according to an interview with Hunkemöller’s CEO Philip Mountford for local newspaper FD. “We are still in the strategic process which began earlier this year, under the guidance of investment bank JP Morgan,” explains Mountford, who was appointed CEO In 2009. “But there has yet to be a sale. The decision lies with PAI. They will see if they or do not sell.”

Mountford adds that due to confidentiality clauses with PAI Partners, owner of Hunkemöller, he is not able to reveal which companies are currently in negotiation for a potential sale, or under what conditions the lingerie brand will be sold. However, he decided to stepped forward and speak publicly in regards to the potential sale after media reports suggested the lingerie brand was being sold for a low price.

“Some anonymous sources are out to get the price down. It is dangerous to play these games,” he explains. “4,500 people work here and they are getting confused. Internally we are a very transparent company, but they are reading something different in the newspaper than what we are telling them leading to confusion.” Rumours that the lingerie brand recently received some disappointing financial reports are also false, says Mountford, who points to a 7.6 percent increase in year-on-year sales.

Until a new owner for Hunkemöller is found, Mountford will continue with plans to develop the lingerie brand into a global brand. Following its recent push into India, the CEO sees potential to expand to Norway, Finland, Switzerland, Poland, Czech Republic and Slovakia. "Across the globe, everyone knows at least one Dutch brand like Heineken. But in the retail sector, there are few global brands like us. We are extremely proud that we are a Dutch brand."