Calida to divest Erlich Textil

Sales at the underwear and lingerie manufacturer Calida have fallen. Rising interest rates in addition to partly high inflation rates and persistent geopolitical uncertainties have ensured that consumer sentiment is “very depressed”, further details of which can be found in the preliminary information on the half-year results 2023.

This German start-up Erlich Textil, which was only acquired in February 2022, was particularly impacted by this. As such, Calida will keep the sustainable underwear company on its books as a discontinued operation going forward. The “significant” impairments in the amount of 23-25 million Swiss francs will be recognized as of June 30, 2023.

The Aubade and Lafuma Mobilier brands also had to contend with sales declines after having previously recorded strong growth and posted record results. However, according to the information in the press release, sales remain “well above pre-COVID pandemic levels”. Moreover, the two brands “continue to enjoy an extremely loyal customer base and remain highly profitable”, the press release explains further. Also acquired in 2022, the North American lingerie brand Cosabella posted year-on-year sales growth. For its part, the CALIDA brand performed “remarkably well” and also recorded sales growth.

Over the months to come, the Calida Group intends to subject its ACCELERATE 2026 growth strategy to a comprehensive review. The aim here is to generate modest organic growth and an EBIT margin of 10 percent.

The current CEO Timo Schmidt-Eisenhart is to leave the company with effect from the end of June 2023. From July 1, 2023, Felix Sulzberger will act as executive Chairman of the Board of Directors on an interim basis, while Thomas Stöcklin has been appointed Lead Independent BoD member (Board Director), again with effect from July 1, 2023. ce/mm