To concentrate on its core business of underwear and lingerie with a targeted brand portfolio, the Calida Group has decided to sell Millet Mountain Group division with the Millet and Lafuma brands.
Commenting on the development, Hans-Kristian Hoejsgaard, chairman of the of Calida Group board said: “The scheduled sale of Millet Mountain Group is the next logical step in optimising the Calida Group business model. A new owner can successfully bring our outdoor business further.”
“The focus on the Calida and Aubade gives the group a distinct profile in the area of underwear and lingerie and generates corresponding value creation to the benefit of customers, employees and shareholders.”
The company said in a statement that Millet Mountain Group, which reported sales of 78.2 million euros in 2020, is a French pioneer in mountain sports equipment, with its two brands Millet and Lafuma. The company added that it is plans to use the sales proceeds for investments in the existing core brands and for acquisitions in the core underwear and lingerie segment in order to further accelerate its growth. Online activities will be expanded further at the same time.
“The planned further strategic focusing of the business model will give an extra boost to the growth and profitability of our group. At the same time, we plan to expand our core business of underwear and lingerie both organically and through targeted acquisitions. The financial solidity of the Group opens up interesting business opportunities for us,” added Timo Schmidt-Eisenhart, CEO of Calida Group.