European Lingerie Group Acquires Avangard

“Through Avangard, we aim to increase the sales of fabrics to our lingerie customers in Russia and also introduce new medical products. In addition to having a good product it is as important to guarantee delivery on time. Avangard acquisition gives us control over the supply chain, offering stable and centralized logistic services, custom clearance and storage options to our Russian customers,” explained Diana Suprunovica, Board member of ELG. Additionally, Edijs Eglins, General Manager of Lauma Fabrics, commented, “The Russian market is large and for business growth we need to establish closer links for all our products. We plan to actively partake in exhibitions, work with industry experts and wholesalers. Avangard acquisition allows us to better address the needs of the Russian market and grow our business.”

The Avangard purchase is financed with internal resources and is expected to have a positive effect on European Lingerie Group’s EBITDA for 2018. ELG is a vertically integrated intimate apparel and lingerie group headquartered in Latvia, European Union, and operates its own production facilities in Latvia, Hungary and Germany. ELG produces lace and fabrics for large lingerie brands under the Lauma Fabrics brand name and medical textiles through Lauma Medical. The group also designs, manufactures and distributes branded premium lingerie garments under the Conturelle brand.