On Tuesday, French outdoor apparel specialist Lafuma, owned by Swiss group Calida, announced it has received a firm acquisition offer for mountain apparel brand Eider, one of the brands in its portfolio, from South Korean group K2.

The value of the transaction, which is expected to be finalised in Q1 2020, was not disclosed. In a press release, the group stated that, at the moment, “the sale is subject to a consultation with employee representative organisations in France.”

K2 is one of the leading players in the outdoor apparel and equipment market in South Korea, where it is the licensed distributor for Eider, and believes it can drive forward the brand's international expansion.

Eider is based in Annecy, in the French Alps, and specialises in the production of climbing and snow sport apparel. It was founded in 1962, and was acquired by the Lafuma group in 2008. The latter was then bought by Swiss lingerie and underwear specialist Calida in 2014.

Eider is one of four brands owned by Lafuma - Calida’s sport and outdoor apparel division - in addition to the group’s eponymous brand of camping apparel and equipment, to Millet (mountaineering apparel and equipment) and Oxbow (surfing apparel and accessories).

In 2018, the Lafuma group performed positively, growing by 6%, and it continued to do so in H1 2019, generating a revenue of €86.9 million, up 4.5% at constant exchange rates.

The sale of Eider would enable the Lafuma group, which is based in Anneyron, France, to focus on the Lafuma and Millet brands in the outdoor apparel and equipment categories.

The editorial team with AFP