Dutch lingerie giant Hunkemöller acquired by U.S. investor—what’s next?

Another takeover: Dutch lingerie giant Hunkemöller is changing hands once again. Reports from WirtschaftsWoche indicate that U.S. investor Redwood Capital Management is acquiring the Dutch lingerie brand. According to the magazine, this move is expected to bring significant changes.

The U.S. investment firm manages assets worth approximately $10 billion. “We are excited to shape the future of Hunkemöller together with Redwood,” said Brian Grevy, CEO of Hunkemöller. The focus will be on an omnichannel strategy to further strengthen the brand’s position as a leading lingerie retailer across Europe.

As recently as 2022, Dutch investment firms Parcom Capital and Opportunity Partners acquired Hunkemöller. The previous majority owner, U.S.-based Carlyle Group, retained a minority stake in the company.

However, the past few years have been as challenging for Hunkemöller as for many fashion brands. Rising inflation has dampened consumer spending, while recent fiscal years have been impacted by global supply chain disruptions, the aftermath of the pandemic, and the ongoing war in Ukraine.

The lingerie retailer, which operates around 900 stores across Europe, reported an 8% revenue decline in 2024, bringing sales down to approximately €542 million. EBITDA fell by about 37% to €42.8 million, while net losses nearly doubled to €142 million.

Hunkemöller launched a comprehensive transformation program at the end of last year to counter difficult market conditions and return to growth. The program focuses primarily on enhancing the customer experience across its 750+ stores.

With a strengthened financial foundation through debt restructuring and new capital investment, the company aims to accelerate the implementation of its new corporate strategy.