Billionaire businessman Brett Blundy is planning a return to lingerie and sleepwear – a corner of the retail market where he has already made two fortunes – and is working on a new brand alongside his private vehicle’s chief executive Mark McInnes.

The new store does not yet have a name, but Mr Blundy and Mr McInnes, the former chief executive of Premier Investments, has been hiring from lingerie businesses that he once owned – local retailer Bras N Things, which he sold to US underwear group Hanes for $500 million in 2018, and Honey Birdette, which was acquired by Playboy in 2021.