European Lingerie Group AB (ELG) announces the acquisition of Dessus-Dessous S.A.S, the largest online retailer of lingerie and swimwear in France. Dessus-Dessous, headquartered in Lunel, France, specializes in online sales of luxury lingerie brands and has been leading the French online lingerie market since 2000, with sales amounting to 7.3 million euros in 2017 and employing 31 people. The acquisition, which was completed today, marks ELG’s expansion to the online retail segment of the lingerie market, and reinforces the Group’s strategic commitment to building a truly vertically integrated business.
Peter Partma, CEO of ELG, said: “We are happy to welcome the very efficient team at Dessus-Dessous as the newest addition to our French and international operations. It is impossible to underestimate the importance of e-commerce in modern lingerie business, and we have a lot to learn from our new colleagues. I congratulate Ms Stessels for the long-time work of building Dessus-Dessous into a successful and sustainable business.”
According to Baiba Birzniece, Head of Strategy and M&A of ELG, the acquisition is of great long-term strategic value to the Group. “There is no doubt that online sales are the future of retail, and this addition is certainly very important to our vertically integrated model. Dessus-Dessous’s business is a unique window on consumer trends and preferences, which in turn will help to create greater efficiencies in the Group.”
