Ultimowas a Glasgow-headquartered designer lingerie brand, majority owned by Sri Lanka–based lingerie group MAS Holdings.
It was founded in 1996 by Michelle Mone (now Baroness Mone), via her company MJM International Ltd., with her ex-husband Michael. In 2013, after their marriage collapsed, Ultimo was transferred to joint venture company Ultimo Brands International Ltd, an equal partnership between Michelle Mone and MAS Holdings.
In November 2014, Mone sold the majority of her stake to MAS Holdings. In August 2015, Mone resigned from the boards of MJM International Ltd and Ultimo Brands International Ltd.
