British multinational retailer Ann Summers specialises in lingerie and sex toys, famed for revolutionising sex in UK retail and paving the way for other sex toy retailers such as Lovehoney and Harmony. The first Ann Summers shop opened in 1970 under Michael Caborn-Waterfield, named after his secretary. The business was purchased by in 1971 by brothers David and Ralph Gold. In 1981, David installed his daughter, Jacqueline, who created the party plan concept – it now runs over 4,000 parties per week in the UK. The retailer operates 140 stores across the UK, Spain and Ireland, with an annual turnover of over £100m.