Switzerland's Calida Group, owner of French lingerie brand Aubade, has acquired family-owned lingerie company Cosabella for $80 million (€75.8 million), as it looks to gain a foothold in the United States.
Swiss group Calida has bought German lingerie brand Erlich together with its parent company, the Vorfreude group, closing fiscal 2021 with sales up 19.2%, record profits and all its brands posting double-digit growth.
Timo Schmidt-Eisenhart, who has served at VF Corp brand's including The North Face, Timberland and Napapijri, will take over as leader of Switzerland's Calida Group in early 2021, succeeding Reiner Pichler.
Following its Viktor & Rolf collaboration, lingerie brand Aubade will continue to infuse its collections with external inspiration and launch a line designed by specialist in Chinese ink illustrations Hong Wai in 2020.
Continued investment in its ecommerce channel has helped Switzerland’s Calida Group deliver a 4% sales increase in constant currency in the first half of 2019, while operating profit rose by more than 15%.