Penny Lancaster calls Michelle Mone feud 'cynical and ugly' in new memoir, decades after Ultimo split

Penny Lancaster has described the long-running dispute with Michelle Mone as a turning point that was both public and painful, calling the end of their working relationship with Ultimo 'cynical and ugly' in her new memoir, Someone Like Me. The memoir arrives nearly two decades after a high-profile bust-up that newspapers dubbed the 'Bra Wars' and that briefly thrust Lancaster into the spotlight alongside Mone and her then-husband, Rod Stewart.

Lancaster, who modeled for Ultimo in 2002, says she was dropped from the brand two years later and replaced by Rachel Hunter, then the partner of Lancaster's future husband, Sir Rod Stewart. She recalls meeting Mone and Michael Mone in London to discuss a potential collaboration, at a time when she says Ultimo was 'on the brink of bankruptcy'—a claim the brand disputes. Lancaster contends that Ultimo could not offer her the going rate for someone of her profile, but she says Mone implied a future business partnership might be possible down the line. She also rejects reports that she was paid £200,000 for the contract, saying the first-year terms were substantially lower. In her account, Mone allegedly suggested that she and her husband had had to remortgage their house to sign the deal.

Lancaster says the publicity around Ultimo’s fortunes helped lift the brand, and she writes that she felt a sense of sisterhood and bond with Mone. But the relationship soured after Lancaster learned, via the press, that Ultimo had hired Rachel Hunter as its new face. She describes the move as a blow to her own career and an example of what she viewed as a strategy aimed at generating headlines. 'The answer was simple: headlines, of course. Pitting Rod Stewart's ex-wife against Rod Stewart's current girlfriend generated more headlines than any publicity campaign ever could,' she writes. 'In my view, it was cynical and ugly.'

The dispute is set against a broader public interest in Mone’s business and public life. A BBC One documentary aired earlier this year examined how PPE Medpro, the company co-founded by Mone and her partner Doug Barrowman, secured PPE contracts during the pandemic and later faced a Department of Health lawsuit over gowns that officials said could not be used because they were not sterile. Mone and Barrowman deny wrongdoing. Lancaster does not directly connect her personal dispute with these broader allegations, but she ties the timeline to a period marked by intense media scrutiny of Mone and her business dealings. In May, Lancaster referenced the documentary during an appearance on ITV’s Loose Women, saying, 'It didn't surprise me because karma gets you, I guess.' The remarks were echoed by a spokesperson for Mone, who suggested that Lancaster’s contract had simply run its course and that there was no 'scare of bankruptcy' at Ultimo. The spokesman added that Ultimo faced the challenges of growth, noting that the brand adapted after department stores demanded changes in marketing and that the makeup of its campaigns shifted as a result. 'There were never any hard feelings. Michelle has always respected Penny as a talented woman and wishes her the very best,' the statement said.

The new memoir adds to a body of reporting and documentary work that has scrutinized Mone’s rise from business founder to peer, and the role of media narratives in shaping public perception of fashion, celebrity, and accountability. Lancaster’s account provides a personal lens on a chapter in the early 2000s when Ultimo was rapidly expanding and fashion brands faced volatile market conditions. While the parties have offered divergent memories of the events that unfolded, the core facts—the model’s engagement with Ultimo in 2002, the subsequent renewal negotiations, and the replacement by a rival model—remain part of the brand’s lore and the broader conversation about the era’s fashion industry dynamics.

Upticks in public interest around Mone’s business activities continue to be punctuated by legal and regulatory scrutiny. The BBC documentary and ongoing legal proceedings related to PPE Medpro have kept the spotlight on Mone’s career, though Lancaster’s comments focus squarely on a personal, behind-the-scenes period of the Ultimo relationship and its abrupt, controversial end. Critics of the brand have argued that lucrative publicity campaigns during the early years helped U l t i m o ride the wave of sensational coverage; supporters note that the company navigated a competitive market and faced the usual pressures of scaling a celebrity-aligned fashion line. Lancaster’s account adds texture to that history, illustrating how personal rivalries can intersect with corporate strategy and public relations in ways that outlast the immediate headlines.

As the memoir circulates among readers and critics alike, it presents a portrait of two women whose lives, careers, and public personas became entwined in a moment of fashion and celebrity that remains a touchstone in discussions of UK culture and entertainment. Whether the public will view the revelations as a candid reconcilement of a difficult period or as a pointed critique of a prominent business figure remains to be seen, but the narrative underscores how personal narratives can influence the legacy of a brand and the memory of a cultural moment.