Switzerland’s Calida Group is expanding its presence in the United States with the acquisition of family-owned lingerie company Cosabella for $80 million (€75.8 million). This move will allow Calida to strengthen its core business following the sale of sportswear brand Millet Mountain, while also providing an entry into the American market with the Calida and Aubade brands.

Cosabella, founded in 1983 by an Italian couple living in the United States, has experienced success with over 50% of its sales coming from online channels. This aligns well with Calida’s strategic focus on e-commerce. In 2021, Cosabella generated $29 million in revenues, with an average sales growth rate of 22% over the past five years.

The transaction is expected to be finalized in the second quarter of 2022. Calida’s CEO, Timo Schmidt-Eisenhart, states that Cosabella will serve as an ideal platform to launch the Calida and Aubade brands in the U.S. market. The company also plans to strengthen Cosabella’s brand recognition in Europe.

Cosabella was initially established by Valeria Campello, who noticed the popularity of Italian products in America and decided to import them before launching her own lingerie collection. The brand specifically caters to the modern American woman.

This acquisition marks Calida’s second purchase this year, following the acquisition of German sustainable lingerie brand Erlich Textil in February. Calida, known in Switzerland for its Calida pajama brand, announced last year that it was seeking acquisitions in the lingerie sector as part of its strategic reorganization. This move follows the group’s decision to divest from the sportswear industry by selling brands such as Oxbow and Eider, as well as the recent sale of Millet Mountain Group.

The earnings from the sale of Millet Mountain Group will be used to fund acquisitions in the intimates sector, according to the Swiss group. Calida aims to strengthen its presence in the lingerie market and establish itself as a leader in the industry. With the acquisition of Cosabella, the company is taking significant steps towards achieving these goals as it expands its reach and offerings in the United States.

Useful Links:
1. Calida Group Official Website
2. Cosabella Official Website