Mountford joined Hunkemöller in 2009, when the company had 350 stores in Belgium, the Netherlands and Luxembourg with €200m (£172m) of turnover. Today the company has 900 stores in more than 20 countries with around €750m (£644m) of sales.

The brand sells direct to consumer across Europe and its UK stockists include Asos, Next and Very. It launched with N Brown Group platforms Simply Be and JD Williams in 2021.

In Mountford’s career, he has held senior roles at women’s and men’s wear retailer Nautica. He was previously division managing director at Versace, and CEO of Moss Bros from 2004 to 2009, before joining Hunkemöller.

Philip Mountford, said: “Over the last 15 years I have had a love affair with the Hunkemöller brand and this has been the most enjoyable time of my business career. Together we have transformed Hunkemöller into one of the leading lingerie brands and it has been an honour to steer the business through this incredible period.

“I have however always said that I am not an entrepreneur or an owner – I am a relay-player, and at some point you need to pass the relay baton over to a new CEO. I would like to thank the team for all of their support.”