Calida parts ways with US lingerie brand Cosabella
Lucerne-based lingerie and night wear manufacturer Calida announced the sale of its US lingerie brand, Cosabella to the New York-based investment firm Crown Brands Group.
However, Calida’s statement does not specify the value of the transaction. Cosabella was acquired in 2022 for $80 million, with the aim of paving the way for the Swiss group’s brands, Calida and Aubade, to enter the US market. Cosabella recorded turnover of CHF4.3 million in the first half of the year, down 36.6% and the lowest turnover within the group.
With this sale, Calida “is continuing to streamline its brand portfolio and reinforcing its commitment to the strategic development of its flagship brands, Calida and Aubade”, the press release adds. The textile manufacturer adds that “this transaction ensures greater operational and financial flexibility, which will enable the targeted development of these brands and their positioning in the high-end segment to continue”.
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At the same time, Calida presented its half-year results for the entire group, which showed a 7.9% decline in sales (-5.9% excluding the effects of exchange rate fluctuations) to CHF93.7 million. Adjusted operating profit (EBIT) from continuing operations recorded a loss of CHF0.3 million, compared with a loss of CHF1.8 million a year earlier. The corresponding margin stood at negative 0.3%, an increase of 1.4 percentage points.
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