Calida To Sell Mountain Sports Gear Division

Calida Group, which includes both the Aubade and Calida intimates divisions, reported at the end of December that it had received a “binding offer for sale of Millet Mountain Group,” a sports equipment firm which it had gradually taken over starting in 2013.

A decade ago Calida was primarily an underwear and lingerie company (having acquired Aubade in 2005), but then set on a diversification strategy, acquiring brands that produced surf and outdoor gear and furniture.

By the end of 2014, underwear represented less than half of total sales, 203,289,000 Swiss francs, compared to a combined total of 206,137,000 Swiss francs for its Millet, Oxbow surf gear and furniture divisions.

But, over the last couple of years the company has reversed course, shedding many of those brands to focus again on undergarments (and the remaining outdoor furniture brand, Lafuma). In mid-2021 the company had announced its intention to sell Millet, and by 2020 Calida had already sold Eider, an outdoor apparel brand in the Millet Group, to the K2 Group of South Korea, and Oxbow to Rainbow SA.

Calida CEO Timo Schmidt-Eisenhart noted “the disposal of the Millet Mountain Group is a further step towards focusing the Calida Group consistently on the core segments of underwear and lingerie and outdoor furniture. We will now be looking to strategic acquisitions to further grow our strong market position in the underwear and lingerie segment.” The company further specified that “the intention is to use the proceeds from the sale of the Millet Mountain Group primarily for acquisitions in the underwear and lingerie segment.” — NM