Crown Brands Group Acquires Iconic Hanky Panky Intimate Apparel Brand

Crown Brands Group, a newly established brand management firm, has partnered with Rafar Group, the parent company of Gelmart International, to acquire the renowned intimate apparel brand, Hanky Panky. This acquisition marks a significant step for Crown Brands Group as it builds a portfolio of established consumer brands.

Under the terms of the agreement, Rafar Group will function as the operating partner, taking the lead on crucial aspects such as product design and development, managing e-commerce operations, and overseeing distribution networks. Simultaneously, Crown Brands Group will concentrate on shaping the overall brand strategy and expanding global licensing opportunities. Both companies will collaborate closely on the development and implementation of marketing initiatives.

This acquisition strategically positions Hanky Panky as the cornerstone asset within Crown Brands Group’s planned collection of heritage brands. Crown Brands Group is financially supported by G72 Holdings, the family office of Raymond Gindi, a member of the family that co-founded the well-known off-price retailer, Century 21 Stores. The firm was specifically created to identify, acquire, and scale brands with a strong legacy.

Raymond Dayan, CEO of Crown Brands Group, emphasized the significance of this deal, stating, “Hanky Panky is the definitive example of the type of brand we are building our platform around—one with authentic heritage, category leadership, and incredible customer loyalty.” He further added, “As our inaugural acquisition, this deal sets the standard for our portfolio strategy. By combining Crown’s retail relationships and brand management focus with Rafar’s operational excellence, we are positioned to unlock significant growth for Hanky Panky while honoring the quality that millions of women trust.”

Hanky Panky, founded almost five decades ago, has cultivated a loyal global customer base. The brand boasts impressive sales figures, with one of its Signature Lace Thongs sold every 10 seconds worldwide. Currently, Hanky Panky products are available through a widespread network of over 2,500 boutiques, department stores, and various e-commerce platforms.

Notably, Hanky Panky’s co-founders, Gale Epstein and Lida Orzeck, will continue to play an active role in the business and will join the brand’s board of directors. Epstein and Orzeck expressed their confidence in the partnership, stating, “We built Hanky Panky on a foundation of comfort, quality, and female empowerment, and it was vital to find partners who respect that DNA. We trust Crown Brands Group and Rafar Group to steward this legacy. Their combined vision gives us great confidence that Hanky Panky will continue to thrive and innovate in this exciting next chapter.”