Lovehoney is an online adult store that sells sex toys, erotic lingerie, condoms, lubricants and gifts.
The advertisement does not show the actual sex toys. The television advertisement features nothing more than a steamy kiss between a couple before they leave for work, but it was deemed to be too provocative for a 10:15am slot that had originally been cleared by regulators.
It is part of a multi-channel campaign built around the theme of couples living a sexier life.
"ITV has got cold feet. It’s a real shame,” Lovehoney’s chief executive Richard Longhurst said.