European Lingerie Group appoints Baiba Birizniece as Head of Strategy, M&A and Investor Relations
European Lingerie Group (ELG), formerly Lauma International, has appointed Baiba Birizniece as Head of Strategy, M&A and Investor Relations, a newly created position confirming the group's intention of becoming a leader in vertically integrated lingerie manufacturing in Europe.
“The increasing internal integration of the group and the further acquisitions necessary to supplement our business model present unique challenges, which led to the creation of the position of Head of Strategy, M&A and Investor Relations,” said Group CEO Peter Partma.
Baiba Birizniece's first goal is to finalise the acquisition of Felina International, the parent company of the eponymous German underwear specialist, from the Palero investment fund, which bought Felina in 2015. The operation began in June 2017, and it will double the size of ELG's workforce.
ELG manufactures and distributes lingerie, lace and also medical bandages, belts and compression products, under its own brands Lauma Fabrics, Felina, Conturelle and Lauma Medical. Before joining the Riga-based Latvian group, Birizniece worked as a consultant for KPMG, then took charge of business development at Latelecom and later become CFO of the Silvano Fashion Group.
Last January, ELG bought its Russian distributor Avangard. In 2017, ELG generated a revenue of €73 million, of which €38 million came from Felina International, and is forecasting a growth of between 2% and 3% in the current financial year. ELG's products are distributed via 5,000 stores in 46 countries, and the group has 1,250 employees.
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