Loss due to Wrong Purchase
Published: Thursday, Jul 27th 2023, 08:40
Updated At: Friday, Oct 13th 2023, 14:12
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Calida, a Swiss lingerie and underwear manufacturer, reported a significant loss in the first half of 2023. This was due to the disappointing sales of the German online brand Erlich Textil, which was acquired in February 2022, and the resulting impairment. The company suffered from the weak consumer environment, with only the Calida house brand continuing to grow faster than the market. Sales of the luxury lingerie brand Aubade and the furniture store Lafuma Mobilier also declined, while the US brand Cosabella and the sustainable German online underwear brand Erlich Textil saw less growth than expected. Erlich Textil is now up for sale, but Calida has yet to find a buyer. The company does not expect a recovery in consumer sentiment in the short term, so sales and operating profit are expected to be lower than in the previous year. The definitive CEO succession also remains unresolved, with Felix Sulzberger taking over as interim CEO since the beginning of July.
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