Coco de Mer managing director Lucy Litwack has led a £5m buyout of the lingerie brand with the backing of an unnamed investor.
Litwack, a former brand director of luxury lingerie brand La Perla, gained the support of an international investor from Switzerland to buy the business from owner Lovehoney, an online erotic gifts business, according to The Sunday Times.
Lovehoney bought Coco de Mer in 2011. It was founded in 2001 by Samantha Roddick, daughter of Anita Roddick, founder of The Body Shop.
The brand's international ambassador is Pamela Anderson and Litwack is believed to be planning to launch a collaboration with Anderson later this year and work on expanding the brand globally.
As well as an online store and a boutique on London's Monmouth Street, Coco de Mer is sold via multibrand stores such as Matchesfashion.com, Selfridges and ASOS.