Jacqueline Gold, founder of Ann Summers, on how she became one of Britain's richest women

Ann Summers chief executive Jacqueline Gold has been credited with transforming the lingerie company into a more female-friendly business – and in the process has become Britain’s 16th richest woman, according to the latest Sunday Times Rich List. So what was the key to her success? Gold believes that identifying a gap in the market was what turned Ann Summers into such a recognisable brand.

‘I knew that women were desperate to buy sexy lingerie and sex toys, but there wasn’t anywhere they could do that which offered a female-friendly, safe environment.’ she explains.

‘I spoke to friends and saw that we could replicate the popular concept of ‘at home’ parties, but with Ann Summers products. The reaction from that very first party demonstrated instantly that customers loved it, and we haven’t looked back since.’

Gold believes that in business, it is far too easy to get distracted by what your competitors are doing: ‘It’s important to stay focussed on your own business, whilst keeping a regular check on what others in the market are doing.’