Calida business burdened by Signa problems
Published: Friday, Feb 23rd 2024, 15:30
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The underwear and lingerie manufacturer Calida has repositioned itself for 2023 and intends to focus on its core brands in the current year. It expects sales to increase - except in the wholesale business. In addition to weak consumer sentiment, the situation there is uncertain due to the Signa turbulence.
"It was a turbulent year," said Chairman of the Board of Directors Felix Sulzberger, who has held the role of CEO ad interim since last July, in a video interview with AWP at the annual media conference in Zurich. Born in Bern, he was already CEO of the Sursee-based group from 2001 to 2016, when he ensured a turnaround. His motto for Calida is now "back to basics". In concrete terms, this means a stronger focus on the core business in order to increase efficiency.
Last year, the Calida brands were affected by the coronavirus pandemic, as the Chairman of the Board of Directors emphasized to the media and investors. Nevertheless, he sees future potential in the textile brands and the furniture business. "The furniture subsidiary Lafuma was extremely profitable for over ten years," said the CEO. However, as it is not a strategic part of the Group, he does not rule out a sale.
Restraint in wholesale
In general, he expects sales in his own stores to grow in the current year, driven in particular by online retail. However, wholesale is likely to be more subdued, partly due to uncertainties in the German department stores owned by the struggling Signa Group. This should result in either slightly positive or slightly negative growth at the end of the year.
Calida also made headlines recently with departures from the Board of Directors and management. However, according to Sulzberger, it is not unusual for there to be personnel changes after an eventful year. "I can assure you that the mood is excellent."
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