Management agrees buy-back of Erlich Textil from Calida

Calida has sold its online underwear brand Erlich Textil. The company is being returned to its former owners as part of a management buy-out. When it came to reporting the half-year figures in June 2023, Calida had already recognized a write-down of 19 million Swiss francs on the eco-start-up Erlich Textil, which was acquired in February 2022. At the same time, the planned sale of the brand was announced.

As stated at this time, the deteriorating market environment was blamed for having adversely impacted the development of Erlich Textil. Sales had declined to such an extent that continuing to operate Erlich Textil under the Calida umbrella was no longer a viable business option.

“The damned seventh year at erlich textil ended with a major fiasco”, as founder Sarah Grohé writes in a LinkedIn post. “The eighth year took a turn with the notary appointment a few days ago that even in my wildest dreams I could barely have imagined: We took the brave step to repurchase the company - after a real rollercoaster ride over the past 18 months - and manage the turnaround of our own accord”.

This is a huge opportunity to think about the business in a completely new way, Grohé explains. “I am very grateful for the chance to breathe new life into my brand, to shake things up and get the business back on its feet”, she adds. Last but not least, Sarah Grohé expressed her thanks to the Calida Group, “who has made it possible for us to take this step”. ce/mm