Sale of the Eider brand in South Korea
July 10, 2009 - South Korea
The Lafuma Group has assigned rights for the Eider brand in Korea to its licensee K2. Under the agreement, cooperation on technology will continue and high-end brand positioning will be maintained.
Following the sale of the Millet brand to Edelweiss (March) and the Lafuma brand to LG Fashion, this agreement finalizes Lafuma’s strategy of selling its brands in South Korea while offering its partners the means to pursue the strategic development of each brand over the long term.
In combination with the capital increase achieved this past May, these transactions have enabled the Group to significantly lower its level of debt and will reposition the Group with a solid financial structure at the end of the fiscal year on September 30, 2009. Henceforth, efforts will be concentrated on improving margins to effect a turnaround in Group performance over fiscal 2009/2010, in spite of the economic recession.