Exclusive: Lingerie and sex toy retailer Ann Summers is laying off tens of employees across the business in a bid to cut mounting costs.
Retail Week understands that between 20 and 30 jobs have been cut and that the redundancy consultation period has now come to a close between those affected by the changes.
The job cuts come as part of the retailer’s bid to streamline its operations, and Ann Summers said it was not a decision that the business “took lightly”.
The round of redundancies is believed to have included Ann Summers chief marketing officer Natalie Amosu, who announced her departure from the business on LinkedIn last week.
The news also follows the recent departure of channels director Joseph Wright, who left Ann Summers in September and has since joined department store Fenwick as chief trading officer.
It remains unclear if Amosu and Wright are to be replaced on the board or if the responsibilities will be taken on by existing Ann Summers board members.
Ann Summers chief executive Maria Hollins told Retail Week: “All retailers are under significant pressure with continuing high taxation and rising costs.
“We have ambitious plans for growth and are always looking at options to bolster the brand in both the UK and internationally, but we also need to ensure our cost base reflects the challenges of today’s high street.
“As a result, we have taken action to reduce costs, which unfortunately included making a small number of colleagues redundant. This was not a decision we took lightly.”
The news comes amid a turbulent trading environment for both fashion and non-fashion retailers alike who are battling the burden of the recent Labour Budget, and are looking to manage rising costs.
Despite recording an increase in profits and sales for the year to July 1, 2023, Ann Summers has also not been shy about discussing its battles with visibility and reach in the market.
This comes after the launch of its new lingerie-specific online marketplace, knickerbox.com, earlier this year.
Ann Summers’ online business is challenged by safe search restrictions on search engines due to the retailer being considered an “adult brand”, which reduces the visibility of some of its core products.
The retailer invested £1.2m into the launch of its new platform earlier this year, as well as investing in its warehouse capabilities.
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