Designers Remix founders buy back IC Group's stake
today Dec 6, 2018
As IC Group sets about transforming itself and also divesting certain brands, Designers Remix said on Wednesday that Charlotte and Niels Eskildsen have bought back IC’s 51% stake in the company and ended their co-ownership deal after 17 years
The Eskildsens are now the sole owner of the brands Designers Remix and Little Remix, which had been the smallest of IC’s operating divisions.
"The timing for us to take over the brand is just right,” CEO Niels Eskildsen said. “We started our sustainable journey 17 years ago and for a long period, we have worked intensively to revive our original DNA to become a sustainable champion. To implement this strategy prescribes a different and a more active type of ownership. With our total control of the brand, we now have full potential of meeting our own ambition.”
Designer Charlotte Eskildsen added that they’re “grateful for all the support Lykke and Niels Martinsen, owners of IC Group, have showed us throughout the past 17 years but I am now looking forward to fulfil our sustainable dream with the rest of the team.”
Designers Remix, which saw lower sales both in the last quarter and the latest year, will be listed as a discontinued activity when IC reports its next set of results in February. IC Group, sold its biggest brand, Peak Performance, in June and is expecting flat sales for its current business year.
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