The chief executive of Hop Lun, one of the world’s largest lingerie manufacturers, is putting his $500 million business up for sale after his children declined to take over the company, the Financial Times reported.
Erik Ryd, a low-profile entrepreneur based in Hong Kong, said his company, which makes intimate wear for Rihanna, Marks & Spencer and H&M, had capitalised on a pandemic-fuelled comfort clothing surge and was expected to increase revenue by as much as 17% in 2022 to $684 million.
Read the full report: Financial Times
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