(Filed Under wholesale Lingerie News). Calida Group, in keeping with CEO Timo Schmidt-Eisenhart’s recent pledge to “now be looking to strategic acquisitions to further grow our strong market position in the underwear and lingerie segment,” acquired a 90% stake in German lingerie brand Erlich Textil at the start of February.
A few days later, Calida signed a binding agreement for the sale of its Millet Mountain Group, a deal which was announced in December. Millet, also the home of Lafuma outdoor products, is being taken over by Jean-Pierre Millet and Inspiring Sport Capital. When Calida discussed the proposed sale in December, it emphasized it would focus going forward on lingerie products, and even stated “the intention is to use the proceeds from the sale of the Millet Mountain Group primarily for acquisitions in the underwear and lingerie segment.”
Switzerland-based Calida described Erlich Textil as a “young” and “sustainable German lingerie brand,” noting that with the acquisition it is “further expanding its strong position in the underwear market as planned. At the same time, the Group is strengthening its pioneering role in the sustainability and e-commerce growth segments with the purchase of the direct-to-consumer brand."
“Since its foundation in 2016, Erlich Textil, with its registered office in Cologne, has stood for fairness, sustainability and a positive working environment. The start-up employs 21 people and generated sales of” 7 million euros (about $7.4 million at current exchange rates) in 2021, according to Calida. “The pure online trader (D2C) attracted attention in the past years with its continuous growth and a scalable digital infrastructure. With its underwear products manufactured in Europe from top-quality textiles made from organic and renewable materials, Erlich Textil creates sustainable alternatives for the underwear market.”
Noting that the firm “won the German award for sustainable design (DNP) in 2021,” it added that Erlich “will continue to be managed by the two founders, Sarah Grohé and Benjamin Sadler.”
The Calida Group is also home to both the Calida and Aubade underwear brands.
(Note: we sometimes include information on the value of foreign currency, converted to U.S. dollars at the time of publication, to provide comparative information to the reader. Due to currency fluctuations over time, actual values at the time of financial reporting might be somewhat different). — NM
Disclaimer: The views expressed in comments published on bodymagazine.us are those of the comment writers alone. They do not represent the views or opinions of Bodymagazine or its staff.
NOTE: Your Email will not be displayed.