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Article: Lingerie firm knits better strategy; Hanky Panky hopes to reinforce business with its new e-commerce site.(NEWS)(Company overview)
- Article from:
- Crain's New York Business
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: KIRA BINDRIM
When times are tough, men stop buying underwear. At least that's what former Federal Reserve Chairman Alan Greenspan once infamously told a reporter. Luckily for lingerie company Hanky Panky, women aren't quite so stingy.
Founded in 1977, Manhattan-based Hanky Panky was the brainchild of longtime friends Lida Orzeck and Gale Epstein, who were inspired by a pair of handmade panties one had given the other as a gift. The duo launched Hanky Pankywith some financial help from their familiesto give comfortable cotton underthings a place in the wider world of lingerie.
"At the time, it was a nylon world, says Ms. Epstein.