Clothing Calida sells garden furniture company Lafuma Mobilier

The traditional company Calida is parting with the only remaining exotic business in its portfolio: the garden furniture business Lafuma Mobilier. The company is now concentrating solely on its core business of underwear and lingerie.

The French industrial giant Peugeot Frères has submitted a binding offer for Lafuma Mobilier, Calida announced on Friday. The transaction is expected to be completed in the third quarter of 2024. The Sursee-based company is not disclosing the sale price.

The French outdoor and garden furniture specialist reportedly operates in over 40 countries and employs around 300 people. Last year, it contributed 48.9 million euros to the Calida Group's turnover. In addition, Lafuma Mobilier was considered very profitable, as Calida management has repeatedly emphasized in the past.

For the continuing operations, Calida now expects sales of 111 million Swiss francs for the first half of 2024. This is 5 percent less than in the previous year. The operating result is expected to be between 0 and -1 million Swiss francs - compared to 2 million in the same period last year.

Calida sees the sale as an "important step" in the strategic reorganization process initiated a year ago. It will allow the Group to focus on operational excellence and the development of its lingerie and underwear brands Calida, Aubade and Cosabella, it says.

SDA