Lafuma has received a binding acquisition offer for its Eider brand from K2, the South Korean technical outdoor company. K2, which is not related to the American ski brand by the same name, is already the licensed distributor of the Eider brand for the important market of South Korea.
The value of the transaction, which is expected to be finalized in the first quarter of 2020, has not been unveiled. Through this acquisition, K2 says it expects to promote Eider’s international development.
Eider, based in Annecy, specializes in the production of climbing and snow sport apparel. Founded in 1962, the brand was acquired by Lafuma in 2008. Lafuma was later acquired by Calida, the Swiss lingerie company, which took a majority stake in the French group in December 2013. Calida raised its stake in the Lafuma Group to 91.84 percent in October.
Eider is one of the four brands of the Millet Mountain Group, a fully-owned subsidiary of the Lafuma Group. It also comprises the eponymous Lafuma brand of outdoor gear and the Millet brands. The Millet Mountain Group’s revenues increased by 6 percent to €101.4 million in 2018, and accounted for 60 percent of the overall revenues of the Lafuma Group for the year. The balance is represented by Lafuma garden furniture and a brand of surfwear, Oxbow.