Cosabella Sales -23.5%

Left, Cosabella’s Never Say Never Ombre Plungie Longline Bralette; right the Savona Chemise & G-String Set, both on the company website.

First half Cosabella sales fell 26% (23.5% when adjusted “for currency effects”) to 6.8 MCHF (million Swiss francs) (about $8.6 million at current conversion rates). Calida, which acquired the brand in 2022, blamed “delivery delays hobbling production of the first series of new designs, the deliberate decision to forego unprofitable sales” and the “pervasive uncertainty over the economy and trade policies,” for the decline. In full year 2021, before the Calida Group took control of the brand, Cosabella had full year sales of  “$29 million and an EBITDA of $4.8 million,” according to a Group release at the time.

Sales for Calida Group as a whole fell 8.6% (7.1% adjusted) to 101.7 MCHF (about $128.1 million) in the first six months of 2024. Net income for the Group rose to 1.5 MCHF (about $1.9 million). This net positive result was aided “thanks to the net proceeds from the disposal of the Lafuma Mobilier factory building” which had been used by a furniture division, sale of which Calida completed last year. Sales for the Aubade brand in the first half fell 10.2% (8.5% adjusted) to 28.9 MCHF (about $36.4 million), and sales for the Calida brand fell 5.5% (4.4% adjusted) to 66 MCHF (about $83.2 million).

The company complained that Aubade “was particularly affected by its weak home market, France,” but added that “the migration of the Aubade e-commerce platform was completed in the 2024 fiscal year and has begun delivering on its promise of greater autonomy and flexibility and an enhanced customer experience.” 

“Despite subdued consumer sentiment, excessive sales promotions were avoided,” for the Calida brand according to the release. “This had the welcome effect of increasing the gross margin percentage in the main sales channels. Calida is investing especially in growing its direct-to-consumer and e-commerce business, by developing existing and new innovations.”

“Repositioning Cosabella will take more time, as will overhauling the business organization and structure of the brand. Since the end of May 2025, markets outside the U.S. are now being served exclusively via the e-commerce business.”

Calida concluded that “despite the challenging market situation, a solid full-year Group operating result in line with the 2024 performance is anticipated.” Last year the group earned 14.9 MCHF (about $18.8 million) on sales from continuing operation of 231 MCHF (about $291 million). On June 1, 2025, Thomas Stöcklin became the new CEO of the Group.