Calida Group will cut 150 jobs at Lafuma Group this year and take over its group functions in a bid to return the French outdoor apparel company to break even in 2014.
Calida Group, whose primary business has been making and marketing the Calida and Aubade luxury lingerie and bodywear brands, acquired a 59.9 percent stake in Lafuma Group in 2013. Calida Group, which is based in Switzerland, said it has since “rigorously streamlined” Lafuma Group’s balance sheet. Lafuma Group's brands include Lafuma, Eider, Killy and Millet.
Calida Group reported its consolidated sales for 2013 increased 3.9 percent year-on-year to CHF211.0 million ($227mm). Excluding the currency effect, sales went up by 2.5 percent. Both the Calida and the Aubade brands contributed to the group's growth. Operating profit (EBIT) for the year under review came to CHF 23.4 million ($25.2mm) before one-time costs, or 11.3 percent of net sales. Consolidated profit (EBIT) before one-time costs came to CHF 23.4 million, or 11.3 percent of net sales.
Following the addition of Lafuma, the enlarged group is debt-free overall and has net cash and cash equivalents of CHF 34.7 million ($25.4mm).
