12 February 2022, Mumbai:
CALIDA GROUP acquires sustainable lingerie brand erlich textil - First steps in the implementation of the "Accelerate 2026" strategy The CALIDA GROUP takes over the sustainable German lingerie brand erlich textil with effect from 4 February 2022.
With the acquisition of this young brand, the CALIDA GROUP is further expanding its strong position in the underwear market as planned. At the same time, the Group is strengthening its pioneering role in the sustainability and e-commerce growth segments with the purchase of the direct-to-consumer brand.
The CALIDA GROUP will apply its proven brand expertise to further accelerate the growth of erlich textil. Since its foundation in 2016, erlich textil with its registered office in Cologne has stood for fairness, sustainability and a positive working environment. The start-up employs 21 people and generated sales of EUR 7 million in 2021.
The pure online trader (D2C) attracted attention in the past years with its continuous growth and a scalable digital infrastructure. With its underwear products manufactured in Europe from top-quality textiles made from organic and renewable materials, erlich textil creates sustainable alternatives for the underwear market.
The company won the German award for sustainable design (DNP) in 2021. erlich textil will continue to be managed by the two founders, Sarah Grohé and Benjamin Sadler. erlich textil is a brand of Vorfreude GmbH, in which the CALIDA GROUP acquires a 90 percent stake.
Hans-Kristian Hoejsgaard, Chairman of the Board of Directors of the CALIDA GROUP says: "With the acquisition of erlich textil, a digital pure-player with a focus on a young target group, we are implementing the ACCELERATE 2026 strategy announced at the Capital Markets Day.
We are particularly pleased that erlich textil and the CALIDA GROUP share the same values and claims regarding sustainability and quality."
Sarah Grohé, co-founder of erlich textil: "We are delighted to have found a reliable partner in the CALIDA GROUP with whom we can start the next growth phase of erlich textil.
The shared values with regard to customer experience, quality and sustainability lay a strong foundation for a successful future."
Timo Schmidt-Eisenhart, CEO of the CALIDA GROUP, says: "I am very happy that we can further expand our market share in the sustainable underwear market with the acquisition of erlich textil. The young brand already has a loyal customer base.
We want to support the future growth of erlich textil with our experience in brand development and international markets. At the same time, the CALIDA GROUP will be able to benefit from new ideas and impetus in the fields of sustainability and digital business. We are looking forward to this fruitful cooperation."
Subscribe to our daily e-newsletter.
Stay updated with the Latest Fashion startup news.
*Figures mentioned in the above article have been sourced from uk.finance.yahoo.com article.