European Lingerie Group acquires French e-commerce platform Dessus Dessous
Determined to become the leader in vertical lingerie production in Europe, Latvia's European Lingerie Group, formerly Lauma, announced the purchase of French lingerie and swimwear e-commerce site Dessus Dessous.
Launched in the 2000s by a Herault-based retailer, the Dessus Dessous site today sells to 130 countries, offering 150,000 items from some 50 brands including Aubade, Chantelle, Chantal Thomass, Lise Charmel, Sloggi, Triumph and Wacoal. The platform claimed 1.4 million unique visitors to its site in 2017, and employs some 30 staff. Its founder, Christine Stessels, will remain on the site's management team until November 2018, to ensure a smooth transition following the takeover.
"It is impossible to underestimate the importance of e-commerce in modern lingerie business, and we have a lot to learn from our new colleagues. I congratulate Ms Stessels for the long-time work of building Dessus Dessous into a successful and sustainable business," said Peter Partman, CEO of ELG.
"We intend to continue to develop the existing activities of Dessus Dessous within the group and we are not predicting any major changes," Partman added.
"Dessus-Dessous’s business is a unique window on consumer trends and preferences, which in turn will help to create greater efficiencies in the group," added ELG's newly appointed Head of Strategy and M&A, Baiba Birzniece.
European Lingerie Group produces and distributes lingerie, lace, suspenders and medical tape through its own brands Lauma Fabrics, Conturelle and Lauma Medical.
To those brands, the firm recently added German lingerie label Felina, purchased one year ago from funds firm Palero. The group also purchased in January this year a Russian distributor, AO Avangard.
ELG recorded during its 2017 fiscal revenues of 73 million euros, of which 38 million euros came from Felina International. The firm expects 2-3% sales growth for the current year. ELG products are distributed through a network of 5,000 stores in 46 countries, and the company employs 1,229 people.
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