Bra tycoon’s £15k-a-time business classes.. as net firm loses £3m
Five-star event said to be sold out
A company backed by Tory peer Michelle Mone has announced losses of almost £3million as she gets ready to hold a £15,000-a-head exclusive business retreat.
The lingerie tycoon is offering a coaching weekend to “supercharge your business and career” with the promise of “style tips on how to dress to empower”, a goody bag and a one-night stay in a five-star hotel.
The Glasgow-born entrepreneur has pledged to talk about her personal journey and up to 30 attendees will have the opportunity to present their “business plan and goals to Michelle in intimate workshops”.
However, despite raking in a five-figure sum per head for business advice, online shopping firm WeShop, of which Mone is a director, has racked up multimillionpound losses.
WeShop, which was previously called Social Superstore, is a comparison and rewards platform for online shoppers. Mone, 48, became involved in it in 2016.
Latest accounts for the firm show it made a loss of £2,790,822 last year. That is up by almost £ 1million on the previous year’s loss of £1,880,794.
The company also has current liabilities of almost £ 4million – a rise of nearly £ 2million from the previous 12 months.
The Ultimo founder is a non- executive director of WeShop, along with F1 legend Nigel Mansell’s son Leo.
Mone’s spokeswoman said:
“Lady Mone is a non-executive director of this technology company. Technology companies never make money when they are developing technology.”
Mone’s two- day business retreat is expected to take place next month and has already sold out, according to her representatives.
Pledging support to prospective candidates’ business plans, Mone told Psychologies magazine: “I’ l l work intensively with a small group of women to make a plan to get their product to market.
“I’m very blunt. I will say it as it is. I’ll tell you if you’re wasting your time. But if I believe in your product, I’ll support you to launch it.
“I will also bring in my team of experts – from PR gurus to makeover experts and my own personal coach from America.”
Mone, who was made a life peer in 2015, is due to marry her billionaire fiance Doug Barrowman at the Palace of
Westminster
in May.