The deal will see an initial two Ultimo outlets open in Manchester and Glasgow next month with the move creating four jobs in total.
The company confirmed the concession will showcase the brand's full range of products and will be staffed by trained consultants.
Michelle Mone, co- founder of Ultimo, said: "We are hugely excited about increasing our presence in House of Fraser's stores and making Ultimo more widely available on the UK high street. With these new stores, we'll be in a position to showcase Ultimo's full product offering, while also giving consumers a seamless shopping experience."
In April Ultimo, part of the East Kilbride based MJM International business, struck a deal to run an online concession within the House of Fraser website.
A House of Fraser spokesperson said: "Ultimo is an iconic lingerie brand, distinguished by its excellent fitting and cleavage enhancing products and we know our customers will be delighted the brand is more widely available in our stores."
The brand is currently available from Debenhams, Harrods, Next, Bentalls, Fenwicks and a number of major online retailers.
Sri Lankan based MAS Holdings has a 51 per cent majority stake in MJM International.