Bath-based sex toy retailer Lovehoney has strengthened its position in the European market by snapping up a smaller Swiss rival.
Amorana, which has been in business for six years, is Switzerland’s leading online retailer of sexual happiness products. According to a survey last year, one in two Swiss recognised the brand.
Lovehoney, which is already Europe’s largest manufacturer and online retailer of pleasure products, said the acquisition would further cement Amorana’s position as the number one player in its home market while also offering opportunities for expansion into other European countries where it can use its expertise to grow the market for sexual wellness.
Amorana sells sex toys, lingerie and educational information from its online store. It also operates a warehouse and support operations in Switzerland.
Founders Lukas Speiser and Alan Frei will stay in their roles as CEO and CMO respectively and will remain significant shareholders of Amorana.
Lukas said: “At Amorana, we always focus on the needs of our customers and work tirelessly to provide them with the perfect shopping experience.
“In just six years, Amorana has grown from a small start-up to the leading Swiss online supplier of lifestyle and sexual wellness products. We’re excited to be partnering with Lovehoney as we continue to grow and innovate the online retail space in Switzerland and abroad.”
Alan added: “We started in 2014 with the vision to change the market for sexual wellness products in Switzerland. Looking back, we prepared the ground for a whole industry, bringing it out of secrecy and into the bedrooms of Swiss customers. It has been a phenomenal journey for Lukas and me and we’re beyond excited about our future plans for Amorana as part of the Lovehoney Group.”
Lovehoney co-founder Neal Slateford said: “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.”
Lovehoney was launched in 2002 by Neal Slateford and Richard Longhurst, who began selling sex toys online from – appropriately – a bedroom.
It began to target its sex toys, lingerie, erotic gifts and other adult products at international markets around seven years ago, first in the US and Australia. More recently it has spiced up the love lives of the French and Germans with country-specific sites.
Four years ago Lovehoney’s overseas sales success led to it becoming possibly the most unusual winner of a Queen’s Award for International Trade.
The Amorana takeover is the first since Swiss-based private equity firm Telemos Capital acquired a majority stake in the Lovehoney two years ago.
Financial details of the Amorana deal have not been disclosed.
The acquisition was announced shortly before Lovehoney confirmed its chief executive Sarah Warby had stepped down from her role after just 12 months.
A spokesman said she had left for family reasons, adding: “We thank her for all of her hard work and wish her well for the future.”
Before joining Lovehoney in September last year Ms Warby spent five years as Sainsbury’s marketing director.
