Certain industries seem to attract more than their fair share of entrepreneurs – lingerie is one of those.

It was first glamorised in the 1960s by fashion manufacturer Frederick’s of Hollywood. I looked at buying the business a few years ago, but it was heavily in debt and had failed to cope with the onslaught of Victoria’s Secret. The attraction of lingerie – unlike most of the commoditised clothing trade – is the margins: customers are willing to pay premium prices because the product is often a gift, carrying a perception of luxury, seduction and mystique.