Michelle Mone, Baroness Mone of Mayfair

In November 1996 she founded MJM International with her then-husband Michael.[1] In August 1999, Mone launched Ultimo at Selfridges department store in London. The couple built up MJM firm into a £39m business. Mone ranks among the UK's most successful businesswomen and her designs can still be found in department stores worldwide.

Following the breakdown of her relationship with her husband, Mone left the company briefly in 2013. She then bought her husband out of MJM International. The business was transferred to a new joint venture company Ultimo Brands International Ltd, in a 49/51% partnership with Sri Lankan-based MAS Holdings.[1] MJM International was then wound up. In November 2014, Mone sold down her stake in Ultimo Brands International to 20% to partner MAS Holdings, and established fake-tan company UTan & Tone.[2]

In August 2015, Mone resigned her directorships of both MJM International Ltd and Ultimo Brands International Ltd citing that she had "Hung up her bra and sold 80% of Ultimo". Mone described her 17 years of building up the Ultimo brand as a "roller coaster ride" and that she was looking forward to a "new chapter".[2]

Mone is one of the highest paid business speakers in the UK seeking up to £25,000 per speech within the UK.[11] She speaks around the globe with Success Resources, the speaking company who tour with Tony Robbins.[12]

Mone, previously a long-standing Labour Party supporter like her family, withdrew her support in 2009 pledging to leave the UK were Gordon Brown to increase the top income tax rate to 50%: she accused Prime Minister Brown of mismanaging the United Kingdom's finances stating that she was "disgusted by the Government's inept handling of the economic crisis".[13]

In January 2012, she gave an interview to The Sunday Times stating her intention to move to England were Scotland to become independent following the 2014 Referendum.[14] The Guardian recorded in a 2015 profile, Mone "grew up a Scottish Labour-voting Protestant and is now a Conservative peer".[15]

On 10 August 2015, Downing Street announced that Mone would lead a review into entrepreneurship and small businesses, particularly focusing upon setting up small businesses in deprived areas, under the Work and Pensions Secretary, Iain Duncan Smith MP.[16] On 27 August 2015, Prime Minister Cameron announced a list of new creations of life peers, including Mone.[17] Her inclusion drew criticism from other business leaders; however, she was commended on the release of the review by others such as the head of commercial banking for Europe at HSBC, Business secretary, and Secretary of State for Business, Innovation and Skills Sajid Javid, Ruth Lowbridge MBE, Executive Chair of the SFEDI Group and others.[18][19] Some Conservatives questioned her suitability for the House of Lords.[20][21] Senior Scottish Conservatives also criticised Cameron's action, describing Mone as "a public relations creation, a personal brand rather than a serious businesswoman".[22] Mone was interviewed for YOU Magazine in April 2016 and said that she told peers that she was worried she would not 'fit in' at the Lords but said "every-time they try to bring me down, I fly higher."

In 2001 Prince Charles invited Mone to join the board of directors of The Princes Scottish Youth Business Trust[25] and later as a member of its Council.

On 21 November 2002, Paisley University awarded her an honorary doctorate (Hon DUniv).[26]

Mone was appointed Officer of the Order of the British Empire (OBE) for "services to the lingerie industry" in the 2010 New Year Honours.[27][28] After consultation with the College of Arms, on 30 September 2015, she was created a life peer as "Baroness Mone, of Mayfair in the City of Westminster".[29]

• 2015: UK Baroness
• 2010: OBE