IC Group mulls sale of Peak Performance
Denmark’s IC Group is exploring to sell to sell its outdoor clothing brand Peak Performance. The company has hired financial advisory group Rothschild & Co to lead a strategic review and look at strategic options.
“Throughout the past couple of years Peak Performance has experienced a strong development with an improved operational business model, strengthened collections and not least improved results. The next part of the journey is to accelerate the international strategy. Perhaps another owner would be better able to lead this next step of the journey than IC Group which is the reason why the Board of Directors has decided to explore this option thoroughly,” said chairman Peter Thorsen.
Earlier this year, IC Group announced structural changes to enable the CEOs of its three core brands Peak Performance, Tiger of Sweden and By Malene Birger to focus on the financial performance and development of their respective business units.
In practical terms, the new management structure was created to align the international strategies and create synergies between the brands.
The Danish group was founded in 2001. In the last two financial years, the company recorded a low single-digit increase in sales, but profitability declined across its three core brands Peak Performance, Tiger of Sweden and By Malene Birger.
Copyright © 2022 FashionNetwork.com All rights reserved.