The Intimate Story Behind a Lingerie Startup

Like so many grad students, Morgan Hermand-Waiche had champagne taste and a beer budget. Or rather, La Perla taste and a Fruit of the Loom budget.

In 2009, Mr. Hermand-Waiche was attending Harvard Business School and dating a fellow student. For their anniversary, he wanted to impress her with a gift of fine lingerie.

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