Following his success with Bras N Things, Anthony Blundy is entering the competitive lingerie market with Léays, aiming to establish a unique identity amidst changing consumer expectations.
Anthony Blundy, a prominent figure in the Australian retail landscape, is embarking on a new venture in women’s lingerie with the launch of the brand Léays. Blundy, who previously led the lingerie retailer Bras N Things to a significant profit increase of over 400% since acquiring it in 2013, later sold the business to Hanes for $500 million in 2018. His experience also extends to the sale of Honey Birdette to Playboy owner PLBY Group in a deal worth $433 million in 2021, in which Blundy held a two-thirds ownership stake.
Léays represents Blundy’s next significant move into a market that has seen dynamic changes and fierce competition. The brand will face the challenge of establishing itself in a retail environment that has shifted notably since the height of Victoria’s Secret’s influence. Notably, the male-centric branding that defined Victoria’s Secret is now confronted by models of inclusivity and varied representation, prominently exemplified by Kim Kardashian’s Skims. Launched with a focus on a wider range of skin tones and sizes from XXS to 4XL, Skims has achieved a valuation of approximately $4 billion.
Rosanna Iacono, CEO of THe Growth Activists, highlighted the success of Skims as indicative of unmet needs in the market, asserting that “there is always room even in a saturated market for a new point of view.” In her remarks to Inside Retail, Iacono emphasized the importance of aligning with contemporary cultural values, suggesting that Léays should avoid replicating existing aesthetics. Instead, she encouraged the new brand to foster its own unique identity to succeed on a global stage.
Iacono outlined that Victoria’s Secret faced two main hurdles in its attempt to penetrate the Australian market when it launched in 2018. She indicated that the local market had already embraced styles akin to those offered by Victoria’s Secret during its absence, and the brand’s arrival coincided with a decline in its overall popularity. “The bottom line was that the name alone was not enough to break into an already crowded market,” she stated.
Furthermore, Iacono identified a significant opportunity within the sleepwear sector, suggesting that this area remains largely untapped in Australia despite Peter Alexander’s stronghold on the category. She contended that there is no other brand currently commanding attention in sleepwear. “If a brand can deliver uniqueness that taps into popular culture… there is always room for a new brand to enter and eventually lead,” Iacono noted.
As Léays embarks on this journey, it is anticipated that with the right creative vision, marketing strategies, and operational expertise—elements likely offered by Blundy’s background—there will be potential for the brand to carve out a place within the competitive lingerie and sleepwear markets. The landscape may be filled with established players, but the evolving consumer expectations and preferences suggest prospects for innovative brands that successfully engage with contemporary ideas of beauty and empowerment.
Source: Noah Wire Services
