Swiss lingerie/outdoor group Calida grows revenue in H1
In the first half of 2018, Swiss lingerie and outdoor group Calida reached a revenue of over CHF193.3 million (€167 million), equivalent to a 10.7% increase (+3.5% at constant exchange rates). The group, since June 2018 the majority shareholder with an 87.7% stake of outdoor brand Lafuma, was bolstered by the performance of its lingerie label Calida, whose revenue grew to €52.9 million (+ 8.4%). Also the Millet Mountain Group’s brands - Millet, Eider and Lafuma – posted positive results, with a revenue of €38.7 million (+ 4.3%), and so did Oxbow (+ 3.8%) with a revenue of €14.2 million.
Another of Calida’s brands, lingerie label Aubade, despite celebrating its 60th anniversary and introducing a new store concept, recorded a slight decrease in sales (-0.7%) with a revenue of nearly €26.7 million in the first six months of the year. Garden furniture brand Lafuma Mobilier was the Swiss group’s worst performer in H1, posting a 1.4% decrease compared to the first half of 2017, with a revenue of €30.2 million.
In the first half of 2018, the Calida group’s EBIT lost 5.7%, falling to €4.7 million. The group explained this downturn with the investment it made in the period, notably in its sales organisation, e-commerce and marketing. Net income was €3.8 million, down 25.1% compared to the first half of 2017, “due to positive one-time effects from and valuation of foreign currency positions in the previous year,” stated the group in a press release. As a result, the Calida group needs to revise downwards its annual profit guidance.
“Our targeted investments enabled us to deal with the profound changes occurring on the market in the period in question. Our multibrand strategy allows us to highlight the precise positioning of our various brands, to promote innovation, and to anticipate customer demand and the evolution of our distribution channels,” said Reiner Pichler, CEO of Calida Group.
The group underlined that online sales were its main strength in the first half of 2018. In 2017, the Calida group bought its German online distribution partner Reich Online, and as a result its e-tail revenue in the first half of 2018 grew by 60.1%, and now accounts for 10.2% of the group’s total sales.
For the second half of 2018, the group announced further investment to promote online sales, its internationalisation drive and marketing activities, with the goal of stabilising revenue, while operating income will probably post a slight downturn.
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