Fabric manufacturer, European Lingerie Group has struck a deal to acquire Dessus-Dessous, one of France’s largest online retailers of lingerie and swimwear. Financial terms of the deal were not disclosed.
Headquartered in Lunel, France, Dessus-Dessous, specializes in the online sale of luxury lingerie brands, such as Lise Charmel, Van De Velde, Simone Pérèle, Felina and Conturelle. ELG is regarded as one of Europe’s leading, vertically integrated manufacturers of fabrics for the lingerie industry. Headquartered in Sweden, it supplies lingerie fabrics to a range of major intimate apparel brands and distributes its own ready garment lingerie products through more than 5,000 points of sale in 46 countries worldwide and online. It produces lace and fabrics under the Lauma Fabrics brand name, medical textiles under the Lauma Medical brand, as well as designing, manufacturing and distributing branded premium lingerie garments under the Conturelle and Felina brands.
According to Baiba Birzniece, Head of Strategy and M&A at ELG, the acquisition offers long-term strategic value for the Group. “There is little doubt that e-commerce is the future of retail, and this addition is certainly very important for our vertically integrated model. Dessus-Dessous activities are a unique window on consumer trends and preferences, which, in turn, will help create greater efficiency within the Group.” Commenting on the deal, Christine Stessels, Founder and CEO of Dessus-Dessous, said: “I care deeply about the company that I and my team have built over the past three decades, and I’m delighted to have found in ELG a new strong and motivated owner. I wish ELG every success in taking Dessus-Dessous activities to the next level.” Stessels will remain in the Dessus-Dessous management team until November 2018 to ensure a smooth transition.
Peter Partma, CEO of ELG, added: “We are pleased to welcome the highly successful Dessus-Dessous team as the newest addition to our French and international operations. It is impossible to underestimate the importance of e-commerce in the modern lingerie industry, and we have a lot to learn from our new colleagues. We intend to continue to develop the existing Dessus-Dessous businesses within the group, and we do not expect any significant changes.”