Lafuma: Bishoes acquisition is strategic for OXBOW
08 Mar '06
2 min read
Clothing company Lafuma Group announced that the company acquired 100 percent of Bishoes, a company specialized in the high growth segment of up market flip-flops.
The company posted sales of EUR 1.2m in 2005. A surfing specialist created the brand in 1995. The company's growth was intentionally contained via a limited selection of customers and by focusing on operating margin of about 10 percent.
This acquisition will allow Oxbow to expand its offer by integrating a footwear line starting with flip-flops, a product that is emblematic of the surfing world.
The quality of outlets marketing Bishoes, backed by the Oxbow sales force, will pave the way to rapid sales growth and a gradual integration of the collection under the Oxbow brand name.
Eric Maydew, the founder and general manager, will join Oxbow as Director of footwear development.
The deal will result in added value given both the profitability of Bishoes and the high potential of Oxbow on the footwear segment in France and abroad.
To conclude this press release, the Lafuma group would like to thank both its new and existing shareholders for their confidence and participation in the capital increase operation, which according to preliminary results was a solid success as it was largely oversubscribed. Information detailing the increase of EUR 25.3 in equity will be released on March 8, 2006.
Lafuma SA's principal activity is the manufacture of outdoor equipment. The company operates through the following sectors: OUTDOOR GENERAL PUBLIC (rucksacks, waterproof clothing, sleeping bags, school bags, camping equipment); TECHNICAL (bags, clothing, footwear, ropes); HUNTING-FISHING-COUNTRY (boots, clothing).
BISHOES is more than just a designer and manufacturer of surfwear products.
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