Holding company Lauma International AS announces name change to European Lingerie Group AS to fully reflect Group’s business development, ambitious global growth strategy and scale.

“Lauma International was established as the parent company of Lauma Fabrics, a leading manufacturer of fabrics, lace and narrows for the lingerie industry. With the acquisition of Felina International AG in June this year, the Group expanded its reach to design, manufacturing and distribution of lingerie, forming a new fully vertically integrated structure. The Group is on a stable organic growth path and is a strong player in the European intimate apparel industry. Renaming of the holding company is a strategic step to fully reflect Group’s growth strategy and both- geographic and product portfolio expansion,” explains Peter Partma, CEO of European Lingerie Group.

The holding company European Lingerie Group is one of the rare fully vertically integrated intimate apparel and lingerie groups which produces lace and fabrics for largest lingerie brands under Lauma Fabrics brand name, as well as produces and distributes branded lingerie garments under Conturelle and Felina brands.

“This is an exciting moment for our Group and we believe the new name, European Lingerie Group, will drive its competitiveness in gaining the scale, further efficiencies and increasing its market presence. Our new corporate identity reflects the significant transformation the Group has made following Felina International acquisition, as well as a new progressive and disciplined business focus. European Lingerie Group has a clear growth strategy, with an emphasis on further consolidation of fragmented lingerie industry in Europe,” said Baiba Ģēģere, Member of Supervisory Board of European Lingerie Group.

European Lingerie Group has a new strategic focus towards deep integration of the supply chain, diversification of the group sales and market, and expanding into new geographies. The Group also has a renewed and strong management team with the unique skills and experience needed to drive value creation for its stakeholders.

About European Lingerie Group AS:
European Lingerie Group is a fully vertically integrated intimate apparel and lingerie group headquartered in Latvia, European Union, supplying all major intimate apparel brands as well as distributing its own products through more than 5,000 points of sale in Western Europe and other countries. The group operates its own production facilities in Latvia, Hungary and Germany Group’s markets include Germany, France, Italy, Spain, Portugal, Poland, Czech Republic, and Baltic States in the EU, while in eastern Europe its main markets are Russia and other CIS countries. The Group’s consolidated revenue exceeds 75 million euros and combined workforce is over 1250 people.