European Lingerie Group acquires Dessus-Dessous
14 June 2018
Dessus-Dessous S.A.S., one of the largest online retailers of lingerie and swimwear in France, was acquired by European Lingerie Group AB (ELG). The acquisition was finalized yesterday.
Ms. Christine Stessels, founder and CEO of Dessus-Dessous, commented on the transaction: "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."
Ms. 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."
According to Baiba Birzniece, Head of Strategy and M&A at ELG, the acquisition is of great 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."
Both parties have agreed to keep the price of the transaction confidential.
Dessus-Dessous, headquartered in Lunel, France, specializes in the online sale of luxury lingerie brands, such as Lise Charmel, Van De Velde, Simone Pérèle, Felina and Conturelle, to name but a few. some. The company has been a leader in the French online lingerie market since 2000, and enjoys extraordinary satisfaction and loyalty from clients thanks to excellent customer service, reliable deliveries and a constantly updated selection of more than 150,000 pieces from over 50 brands. Dessus-Dessous employs 31 people.
ELG, the acquiring party, is one of Europe's leading manufacturers of fabrics for the lingerie industry and the owner of Felina, a lingerie manufacturer based in Germany. ELG's sales amounted to 73 million euros in 2017 and the Group employs 1,229 people.
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