The Swiss lingerie group Calida Group acquires the US premium brand Cosabella. After the acquisition, the group also plans to bring the Calida and Aubade brands to the USA.
The Calida Group is paying 80 million US dollars (76.2 million euros) for the family company Cosabella, founded in 1983. The company is using the proceeds from the sale of the Millet Mountain Group outdoor division to expand its core underwear business. The acquisition is expected to close in the second quarter of 2022.
focus on laundry
Cosabella employs around 50 people and last year generated sales of 29 million US dollars and earnings before interest, taxes, depreciation and amortization of 4.8 million US dollars. The rapidly growing digital business of the lingerie brand with an online share of over 50 percent is also interesting for the Calida Group.
“With the acquisition of the strong Cosabella brand, we are continuing to focus the Calida Group on its core segment while strengthening online growth,” said Calida’s Chairman of the Board of Directors, Hans-Kristian Hoejsgaard, in a statement on Thursday.
Calida and Aubade come to the USA
With its Italian roots, Cosabella has “still largely untapped potential on the European market”, which the Calida Group wants to develop. At the same time, the acquisition creates “an ideal starting position” for Calida to enter the US market, according to the laundry company. In the future, Cosabella will also be able to use the Swiss company’s existing production sites and brand platform.
“We are very pleased to be able to expand our product range in our core underwear and lingerie segment with the internationally recognized Cosabella brand,” said Calida Managing Director Timo Schmidt-Eisenhart in the press release. “With our many years of brand expertise, we will strengthen the awareness of Cosabella as a popular lingerie brand in Europe and at the same time benefit from Cosabella’s knowledge of the US market.”