Michelle Mone's ex-husband launches lingerie brand that will rival Ultimo

ULTIMO founder Michelle Mone is gearing herself up for some stiff competition after her ex-husband announced today that he is setting up his own lingerie firm.

Michelle Mone's ex-husband has set up a lingerie firm to rival Ultimo (WENN)

The 41-year-old business woman is no doubt bracing herself for the launch of Michael Mone's new brand, which is entitled Pendulum Apparel.

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And to make matters worse, Micahel has hired former Ultimo designer Samantha Bunn - who he was accused of having an affair with during his marriage to Michelle.

"This is a slap in the face for Michelle. Michael is really experienced and Samantha is one of the hottest designers. It seems like a dream combination," a source told The Sun.

The news comes as the blonde mother-of-three successfully purchased Michael's share of Ultimo.

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This is a slap in the face for Michelle. Michael is really experienced and Samantha is one of the hottest designers. It seems like a dream combination.

Source

He previously held 48 per cent of the shares which are valued at £50 million.

Michelle divorced her husband in January this year, and had sacked Samantha after believing that the two of them had been having an affair.

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But 48-year-old Michael has always denied the allegations, saying at the time: "Prior to our split, there was no relationship. If anyone is saying that is the reason for the split, that is untrue."

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