49-642: La Senza Corporation is a Canadian fashion retailer that sells women's lingerie and intimate apparel . The La Senza brand is currently owned by Regent which operates and owns La Senza stores in Canada and the United States and uses a franchise model for the operation of stores outside Canada and the United States. At its peak, La Senza was the dominant lingerie retailer in Canada, with 322 corporate-owned stores across
98-740: A Swiss Verein to a co-operative under Swiss law in 2003 and to a limited company in 2020. This structure in which the Limited company provides support services only to the member firms is similar to other professional services networks . The member firms provide the services to the client. The purpose is to limit the liability of each independent member. KPMG's global chairman is Bill Thomas, former senior partner and CEO of Canadian member firm KPMG LLP. Some KPMG member firms are registered as multidisciplinary entities that also provide legal services in certain jurisdictions. In India , where regulations do not permit foreign auditing firms to operate, KPMG
147-406: A $ 400 million fraud took action against KPMG with regard to its refusal to honor a February 2016 court order to produce Chinese working papers, correspondence, and records to the liquidators. The liquidators are asking that 91 defendants be held in contempt of court , which could result in criminal penalties, or weekly fines. KPMG had issued written audit reports for CMED from 2003 to 2008, and
196-540: A Beverly Hills-based private equity firm controlled by investor Michael Reinstein . La Senza's products focus on lingerie and nightwear but also include loungewear, daywear, and accessories . The concept is similar to that of Victoria's Secret , which is owned by La Senza’s previous parent company, L Brands corporation. From 2000 to 2006, La Senza was sold by L Brands in January 2019 to Regent and now operates as an independent company. La Senza also briefly operated in
245-549: A former KPMG LLP partner in charge of KPMG's US Los Angeles-based Pacific Southwest audit practice, admitted passing on stock tips about clients, including Herbalife , Skechers , and other companies, to his friend Bryan Shaw, a California jewelry-store owner. In return Shaw gave London $ 70,000 as well as gifts that included a $ 12,000 Rolex watch and concert tickets. On 6 May, Shaw agreed to plead guilty to one count of conspiracy to commit securities fraud . He also agreed to pay around $ 1.3 million in restitution, and to cooperate with
294-579: A grouping of independent national practices to create a strong European-based international firm. Deutsche Treuhand-Gesellschaft CEO Reinhard Goerdeler (son of leading anti-Nazi activist Carl Goerdeler , who would have become Chancellor if Operation Valkyrie had succeeded) became the first CEO of KMG. In the United States, Main Lafrentz & Co. merged with Hurdman and Cranstoun to form Main Hurdman & Cranstoun. In 1987, KMG and Peat Marwick joined forces in
343-456: A partnership with Alphabet's Google Cloud . This is an attempt to leverage Google products in the workplace, develop AI agents and overall make the workforce familiar with the technology. Each national KPMG firm is an independent legal entity and is a member of KPMG International Limited, a UK Limited Company incorporated in London, United Kingdom. KPMG International changed its legal structure from
392-465: A protruding bustline . There was also a return to a small waist achieved with girdles. The 1940s woman was thin, but had curvaceous hips and breasts that were pointy and shapely. In the 1960s, the female silhouette was liberated along with social mores. The look was adolescent breasts, slim hips, and extreme thinness. André Courrèges was the first to make a fashion statement out of the youth culture when his 1965 collection presented androgynous figures and
441-435: A total of 277 locations worldwide. La Senza was founded in Canada by Laurence Lewin and Irving Teitelbaum, who opened the company's first store in 1990. In October 2006, La Senza was purchased by L Brands of Columbus, Ohio for $ 710 million CAD in cash, a company which already owned Victoria's Secret . By 2013, La Senza closed over two-thirds of its Canadian locations, including redundant and spin-off stores. Reasons for
490-596: A trend for male lingerie on the catwalk and predictions as to the likelihood of it successfully extending to the high street fashion stores. The Iranian regime regularly bans vendors who procure and sell imported lingerie dresses. KPMG KPMG International Limited (or simply KPMG ) is a multinational professional services network , and one of the Big Four accounting organizations, along with Ernst & Young (EY), Deloitte , and PwC . The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler". The initialism
539-432: A visually appealing undergarment was developed during the late nineteenth century. Lady Duff-Gordon of Lucile was a pioneer in developing lingerie that freed women from more restrictive corsets . Through the first half of the 20th century, women wore underwear for three primary reasons: to alter their outward shape (first with corsets and later with girdles or brassieres ), for hygienic reasons and for modesty . Before
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#1732909202270588-676: Is a category of primarily women's clothing including undergarments (mainly brassieres ), sleepwear , and lightweight robes . The choice of the word is often motivated by an intention to imply that the garments are alluring, fashionable, or both. In a 2015 US survey, 75% of women reported having worn "sexy lingerie" in their lifetime. Lingerie is made of lightweight, stretchy, smooth, sheer or decorative fabrics such as silk , satin , Lycra , charmeuse , chiffon , or (especially and traditionally) lace . These fabrics can be made of various natural fibres like silk, cotton or of various synthetic fibres such as polyester or nylon. The word lingerie
637-514: Is a word taken directly from the French language, meaning undergarments, and used exclusively for more lightweight items of female undergarments. The French word in its original form derives from the French word linge , meaning ' linen ' or ' clothes '. Informal usage suggests visually appealing or even erotic clothing. Although most lingerie is designed to be worn by women, some manufacturers now design lingerie for men. The concept of lingerie as
686-779: Is licensed as an investment bank and carries out audits under the name of BSR & Co, an auditing firm KPMG purchased after the 1992 liberalisation of the Indian economy . During March 2022, in response to the Russian invasion of Ukraine , KPMG announced that their Russian and Belarusian firms would leave the KPMG network. KPMG is organised into the following three service lines that generated $ 36 billion in revenue (the 2023 revenue shares are listed in parentheses): Tax arrangements relating to tax avoidance and multinational corporations and Luxembourg which were negotiated by KPMG became public in 2014 in
735-501: The Isle of Man . KPMG US terminated five partners in its audit practice, including the head of its audit practice in the US, after an investigation of advanced confidential knowledge of planned audit inspections by its Public Company Accounting Oversight Board (PCAOB). This followed criticism about KPMG's failure to uncover illegal sales practices at Wells Fargo or potential corruption at FIFA ,
784-686: The Madoff " Ponzi scheme ". Class action suits were filed. In August, it was reported by the Swedish Financial Supervisory Authority to the Swedish accountancy regulator after HQ Bank was forced into involuntary liquidation after the Financial Supervisory Authority revoked all its licences for breach of banking regulations. In August, KPMG conducted due diligence work on Hewlett-Packard 's $ 11.1 billion acquisition of
833-604: The United Kingdom and Ireland franchise, called La Senza UK, and began expanding it, eventually with sub-franchises in other parts of the European Union . In July 2006, Paphitis sold the company to private equity company Lion Capital , for a reported £100m. Paphitis left the board and is no longer a shareholder, and in the spring of 2011 set up the new lingerie firm Boux Avenue . On 23 December 2011, La Senza UK filed for administration citing "trading conditions" as one of
882-737: The American Audit Co. in New York. In 1923, The American Audit Company was renamed FW LaFrentz & Co. In about 1913, Frank Wilber Main founded Main & Co. in Pittsburgh . In March 1917, Piet Klijnveld and Jaap Kraayenhof opened an accounting firm called Klynveld Kraayenhof & Co. in Amsterdam. In 1925, William Barclay Peat & Co. and Marwick Mitchell & Co., merged to form Peat Marwick Mitchell & Co. In 1963, Main LaFrentz & Co
931-563: The British software company Autonomy . In November 2012 HP announced an $ 8.8 billion write off due to "serious accounting improprieties" committed by Autonomy management prior to the acquisition. According to an independent panel formed to investigate irregular payments made by Olympus which reported in December, KPMG's affiliate in Japan did not identify fraud at the company. In April, Scott London,
980-626: The La Senza brand in the UK for an undisclosed sum. Alshaya said it would retain 60 stores, securing around 1,100 jobs while ensuring the continuation of a strong and popular brand on the UK high street. The deal and subsequent plans for the business, which included new product collections and store redesigns, represented a planned investment of around £100m in the UK retail sector over the next two years by Alshaya. Difficult trading conditions however continued and by June 2014 administrators were once again appointed to
1029-535: The Netherlands is the only country with two members of KPMG International: KPMG Audit (accountants) and Meijburg & Co (tax consultants). In 1991, the firm was renamed KPMG Peat Marwick, and in 1999, the name was reduced again to KPMG. In October 1997, KPMG and Ernst & Young announced they would merge. However, while the merger to form PwC was granted regulatory approval, the KPMG/Ernst & Young tie-up
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#17329092022701078-509: The UK by the end of 2013. KPMG agreed to pay $ 125 million and $ 75 million to settle lawsuits stemming from the firm's audits of Rite Aid and Oxford Health Plans Inc., respectively. KPMG agreed to pay $ 115 million to settle lawsuits stemming from the collapse of software company Lernout & Hauspie Speech Products NV. During August, KPMG LLP admitted to criminal wrongdoing and agreed to pay US$ 456 million in fines, restitution, and penalties as part of an agreement to defer prosecution of
1127-622: The United Kingdom, Germany, Switzerland and Liechtenstein merged to form KPMG Europe LLP in October 2007. These member firms were followed by Spain , Belgium , the Netherlands , Luxembourg , CIS ( Azerbaijan , Russia , Ukraine , Belarus , Kyrgyzstan , Kazakhstan , Armenia and Georgia ), Turkey , Norway , and Saudi Arabia . They appointed joint Chairmen, John Griffith-Jones and Ralf Nonnenmacher. In 2020, KPMG International Limited
1176-439: The United States from 2000 to 2006. In 2016, several La Senza stores opened in the United States on an experimental basis. This included two locations in L Brands' hometown Columbus, Ohio , at Easton Town Center and Polaris Fashion Place , and two locations in other states, including Orland Park, Illinois and Merrillville, Indiana . As of 2022, none of these locations are still in operation. Businessman Theo Paphitis bought
1225-519: The United States. As of 2019, La Senza employed over 2,000 associates globally and currently operates 130 company-owned stores in the United States and Canada and an additional 187 stores via its international franchise partners spanning 36 countries across the Middle East, Northern Africa, Latin America, Eastern Europe and South East Asia. In January 2019, L Brands sold the La Senza business to Regent ,
1274-641: The balance sheet for a potential large fine (up to £1 billion) arising out of the Carillion lawsuit. In April 2022, it was announced that KPMG will acquire 50% of the UK-based venture capital advisory specialist Acceleris subject to approval from the Financial Conduct Authority. In August 2022, KPMG announced plans to downsize its office footprint in New York City in 2025, when it moves its offices in
1323-432: The brand's decline included discontinuing products that Canadians preferred, such as PJs, and to remove internal category duplication with Victoria's Secret. Stuart Burgdoerfer, vice-president and CFO of L Brands, said of La Senza: “There are signs of optimism there, but we are not at all accepting of the current result that we have.” By January 2017, there were 329 La Senza stores worldwide, including 122 in Canada and four in
1372-468: The city from Midtown Manhattan to Two Manhattan West in Hudson Yards . In May 2024, KPMG partners approved the merger of its UK and Switzerland firms, which are working across audit, legal, tax, and advisory, and generating $ 4.4 billion annually. In November 2024, KPMG announced that it would spend $ 100 million over the next four years to boost its enterprise artificial intelligence services via
1421-458: The conditions for closure. The company stated that it had 2,600 UK staff at 146 stores and 18 concessions, and announced plans to close 80 stores. On 9 January 2012, Kuwait based international retail franchise operator Alshaya announced it had reached agreement to take control of much of the ongoing La Senza business in the UK. Under an agreement with KPMG , administrators to La Senza UK, Alshaya UK Limited acquired exclusive franchise rights for
1470-445: The country in January 2009. It also had 497 franchised international stores at that time, for a total of 819 locations. However, fierce competition by La Vie en Rose and other lingerie retailers resulted in La Senza losing its Canadian dominance, closing 248 domestic locations. As of September 2020, La Senza owns and operates 74 stores in Canada and one in the United States, and has a franchise agreement with 202 international stores, for
1519-738: The financial statements of British aerospace company, Rolls-Royce plc for the year ended December 2010. In August, KPMG US paid a $ 6.2 million fine to the US Securities and Exchange Commission for inadequacies in its audit of the financial statements of oil and gas company, Miller Energy Resources. It also found KPMG guilty of a long list of violations with regard to its audits, including "lack of competence" and "highly unreasonable conduct." In November, 91 partners of KPMG Hong Kong faced contempt proceedings in Hong Kong High Court , as China Medical Technologies (CMED) liquidators investigating
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1568-538: The firm he worked for changed its name to Robert Fletcher & Co. William Barclay Peat joined the firm in 1870 at 17 and became head of the firm in 1891, renamed William Barclay Peat & Co. by then. In 1877, Thomson McLintock founded Thomson McLintock & Co in Glasgow. In 1897, Marwick Mitchell & Co. was founded by James Marwick and Roger Mitchell in New York City . In 1899, Ferdinand William LaFrentz founded
1617-674: The firm, according to the US Justice Department and the Internal Revenue Service. In addition to the agreement, nine individuals-including six former KPMG partners and the former deputy chairman of the firm were to be criminally prosecuted. As alleged in a series of charging documents, the fraud relates to the design, marketing, and implementation of fraudulent tax shelters. American real estate financing firm Fannie Mae sued KPMG for malpractice for approving years of erroneous financial statements . In February, KPMG Germany
1666-419: The first mega-merger of large accounting firms and formed a firm called KPMG in the United States and most of the rest of the world and Peat Marwick McLintock in the United Kingdom. In the Netherlands, due to the merger between PMI and KMG in 1988, PMI tax advisors joined Meijburg & Co. (The tax advisory agency Meijburg & Co. was founded by Willem Meijburg, Inspector of National Taxes, in 1939). Today,
1715-523: The governing international body of football. It was reported in 2017 that KPMG had the highest number of deficiencies, among the Big Four , cited by its regulator in the previous two years. This includes two annual inspections that were compromised as a result of advanced access to inspection information. In March 2019, David Middendorf and Jeffrey Wada, co-defendants in the scandal, were convicted. The UK accounting regulator, Financial Regulation Council (FRC), has opened an investigation into KPMG's audit of
1764-504: The government as part of a plea deal with federal prosecutors. This scandal led KPMG to resign as auditor for Herbalife and Skechers. KPMG was accused by the Canada Revenue Agency of abetting tax evasion schemes: "The CRA alleges that the KPMG tax structure was in reality a 'sham' that intended to deceive the taxman." The Canada Revenue Agency offered an amnesty to KPMG clients caught using an offshore tax-avoidance scheme on
1813-467: The image of a modern woman comfortable with her own body. As the 20th century progressed, underwear became smaller and more form fitting. In the 1960s, lingerie manufacturers such as Frederick's of Hollywood begin to glamorise lingerie. The lingerie industry expanded in the 21st century with designs that doubled as outerwear. The French refer to this as 'dessous-dessus,' meaning something akin to innerwear as outerwear. The global lingerie market in 2003
1862-675: The invention of crinoline , women's underwear was often very large and bulky. During the late 19th century, corsets became smaller, less bulky and more constricting and were gradually supplanted by the brassiere, first patented in the 20th century by Caresse Crosby . When the First World War broke out, women found themselves filling in men's work roles, creating a demand for more practical undergarments. Manufacturers began to use lighter and more breathable fabrics. In 1935, brassières were updated with padded cups to flatter small breasts and three years later underwire bras were introduced that gave
1911-416: The permanent role. In November 2021, KPMG UK was reported as having revised its partnership process to introduce five levels of partnership which required partners to inject capital at levels starting at £150,000 and going up to £500,000. This along with the £115 million proceeds from the sale of its pensions business earlier in 2021, which it seems was not distributed to the partners, was intended to prepare
1960-567: The so-called Luxembourg Leaks . KPMG was the preferred employer among the Big Four accounting firms according to CollegeGrad.com. It was also ranked No. 4 on the list of "50 Best Places to Launch a Career" in 2009 according to Bloomberg Businessweek . It was reported in early 2012 that KPMG has about 11,000 staff in the UK and 9,000 in mainland China and Hong Kong. KPMG's global deputy chairman predicted that headcount in China would overtake that of
2009-529: The struggling UK sector of the La Senza business. By this time the group was under the ownership of Marnixheath, which was operating 55 stores in the UK, employing 752 people. L Brands later acquired all of the assets and intellectual property of the UK business. La Senza manufactures some of its products near Kancheepuram in South India. La Senza operates out of malls in India as well. Lola and Coco by La Senza
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2058-1222: Was a leisurewear collection launched in 2008, promoted by British dance group Booty Luv . Another line launched in 2008 was inspired by The Pussycat Dolls and designed by the group's creator, Robin Antin . The collection uses fabrics imported from Italy and Spain . La Senza previously owned and operated other labels, including La Senza Girl clothing stores for teenagers as well as clothing for younger children, La Senza Express stores for bras and panties , and La Senza Spirit for activewear. Similar to Victoria's Secret, La Senza uses high-profile fashion models to endorse their product. Models such as Ginta Lapina , Emily Didonato, Irina Shayk, Lauren Gold , Petra Němcová , Isabeli Fontana , Bianca Balti , Yamila Díaz , Doutzen Kroes , Daniela Pestova , Sophie Anderton , Rebecca Romijn , Caroline Winberg , Emma Heming , Jessica Stam , Maria Sokolovski , and Niclyn Rendall have been featured in an array of campaigns. Lingerie Lingerie ( UK : / ˈ l æ̃ ʒ ər i , ˈ l ɒ n -/ , US : / ˌ l ɒ n ʒ ə ˈ r eɪ , ˌ l æ n ʒ ə ˈ r iː / , French: [lɛ̃ʒʁi] )
2107-570: Was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987. KPMG is a network of firms in 145 countries with 273,424 employees. It has three lines of services: financial audit , tax, and advisory . Its tax and advisory services are further divided into various service groups. Over the past decade, various parts of the firm's global network of affiliates have been involved in regulatory actions as well as lawsuits. In 1816, Robert Fletcher started working as an accountant and in 1839
2156-580: Was estimated at $ 29 billion, while in 2005, bras accounted for 56 per cent of the lingerie market and briefs represented 29 per cent. The United States 's largest lingerie retailer, Victoria's Secret , operates almost exclusively in North America, but the European market is fragmented, with Triumph International and DB Apparel predominant. Also prominent are French lingerie houses, including Chantelle and Aubade . In March 2020 The Guardian reported
2205-533: Was formed by the merger of Main & Co and FW LaFrentz & Co. In 1969, Thomson McLintock and Main LaFrentz merged forming McLintock Main LaFrentz International and McLintock Main LaFrentz International absorbed the general practice of Grace, Ryland & Co. In 1979, Klynveld Kraayenhof & Co. (Netherlands), McLintock Main LaFrentz (United Kingdom / United States), and Deutsche Treuhand-Gesellschaft (Germany) formed KMG (Klynveld Main Goerdeler) as
2254-400: Was incorporated in London, England. In February 2021, KPMG UK appointed its first female leaders, replacing Bill Michael, who stepped aside after making controversial comments. Bina Mehta was asked to step in as acting UK chairman and Mary O'Connor took over Michael's executive responsibilities as acting senior partner in UK. In April 2021, O'Connor quit the firm after being passed over for
2303-626: Was investigated for ignoring questionable payments in the Siemens bribery case. In November 2008, the Siemens Supervisory Board recommended changing auditors from KPMG to Ernst & Young. In February, KPMG Mauritius was sued by a group of South African pensioners who lost millions when investing in Leaderguard Spot Forex (LSF), a foreign exchange investment scheme backed by KPMG and Denmark-based Saxo Bank . The suit against KPMG
2352-431: Was just for the portion lost during their involvement. In March, KPMG was accused of enabling "improper and imprudent practices" at New Century Financial , a failed mortgage company, and KPMG agreed to pay $ 80 million to settle suits from Xerox shareholders over manipulated earnings reports. In December, it was announced that two of Tremont Group 's Rye Select funds, audited by KPMG, had $ 2.37 billion invested with
2401-466: Was later abandoned. In 2001, KPMG spun off its United States consulting firm through an initial public offering of KPMG Consulting, which was rebranded BearingPoint . In early 2009, BearingPoint filed for Chapter 11 bankruptcy protection. The UK and Dutch consulting arms were sold to Atos in 2002. In 2003, KPMG divested itself of its legal arm, Klegal and KPMG sold its Dispute Advisory Services to FTI Consulting . KPMG's member firms in
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