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United States Michelle Mone, Baroness Mone OBE, is a Scottish businesswoman and life peer recognized for founding the lingerie company Ultimo and her later involvement in political and entrepreneurial ventures.
Founded in 1996 with her then-husband Michael Mone, this company led to the creation of the Ultimo lingerie brand. Michelle Mone had a 50% share of this.
Lingerie company founded by Michelle Mone in 1999 as part of MJM International. Mone sold 80% of her stake in Ultimo Brands International to MAS Holdings in 2014.
A partnership with MAS Holdings was formed after Mone's marriage breakdown in 2013, where business assets were transferred to Ultimo Brands International Ltd. Mone later sold 80% of her stake in Ultimo Brands International to MAS Holdings in November 2014.
Mone's company MJM partnered with retailers such as Asda.
Mone's company MJM partnered with retailers such as Debenham's.
A joint venture formed in 2006 with naturopath Jan de Vries for weight loss pills, where MJM took a 50% share. By 2013, Mone had 60% of the business.
Mone's company launched a fake tan product in 2012. In 2014, she took 100% control of Ubeauty Global. She sold the company in March 2017.
In 2017, Mone and Doug Barrowman launched a £250 million residential development in Dubai, claiming it would be the first-ever development priced in bitcoin. By 2019, the development was reportedly 'on hold'.
In 2018, Mone and Doug Barrowman launched a cryptocurrency called Equi through Equi Capital, aiming to raise $US80 million for startup investments. The project struggled, raising significantly less than hoped, and investors were refunded by August 2018.
A company linked to Michelle Mone and her husband Doug Barrowman, awarded £200 million in contracts to supply personal protective equipment (PPE) during the COVID-19 pandemic starting June 2020. The company was ordered to repay £122 million plus interest for breaching a contract to supply surgical gowns.
A company lobbied for by Michelle Mone, established as a secret entity of her husband Barrowman's family office, Knox family office.
Michelle Georgina Allan, born on October 8, 1971, in Glasgow, Scotland, embarked on her entrepreneurial journey after leaving school at 15. She secured a marketing position at Labatt brewing company, quickly ascending to head of marketing in Scotland. At 23, following redundancy, she utilized her severance to establish her own enterprise. In 1996, Mone co-founded MJM International Ltd with her then-husband, Michael. A significant milestone occurred in August 1999 with the launch of the Ultimo lingerie brand at Selfridges in London. Mone developed the concept for the Ultimo bra, aiming to create a more comfortable cleavage-enhancing design. This innovation, along with subsequent products like backless dresses and shapewear, contributed to MJM International’s expansion.
Her career progressed with media appearances, including a BBC Two documentary in 2002, “Trouble at the Top: Boom or Bust,” and various roles on television programs such as “Mind Your Own Business” and “The Apprentice.” In 2010, she was appointed Officer of the Order of the British Empire (OBE) for her contributions to the lingerie industry. Mone sold 80% of her stake in Ultimo Brands International to MAS Holdings in November 2014 and resigned her directorships of MJM and Ultimo in August 2015.
In 2015, Michelle Mone was appointed a Conservative life peer, becoming Baroness Mone of Mayfair. This marked a shift into politics, where she led a review into entrepreneurship and small businesses. Later business ventures included the launch of a Dubai residential development in 2017 and a cryptocurrency project called Equi in 2018 with her partner Doug Barrowman.
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