Ultimo was a Scottish designer lingerie brand, majority owned by Sri Lanka–based lingerie group MAS Holdings. It was founded in 1996 by Michelle Mone, via her company MJM International Ltd., with her then-husband Michael. In 2013, after their marriage collapsed, Ultimo was transferred to joint venture company Ultimo Brands International Ltd, an equal partnership between Michelle Mone and MAS Holdings. In November 2014, Mone sold the majority of her stake to MAS Holdings. In August 2015, Mone resigned from the boards of MJM International Ltd and Ultimo Brands International Ltd.[1]
History
Michelle Mone was born and grew up in the East End of Glasgow, Scotland.[2] After an early career as a model, she ran Labatt's Scottish sales and marketing team. After being made redundant and having her second child, in October 1996 she decided, while wearing a very uncomfortable cleavage enhancing bra at a dinner dance, that she could create a better design. Her stated aims were to create a bra that was both more comfortable, and better looking, creating more cleavage.[3]