Lalique Group reports sales up 4% in 2017, says partnership with Damian Limited will not go ahead

Lalique Group sales increased 4% in 2017

Switzerland-based Lalique Group reported sales up 4% to €128.8m for 2017, driven by the beauty division and its crystal and interior design business.

Net profit stood at €6.9m, up from €1m in 2016, due in part to saving €1.9m following the company tax reform in France.

The Lalique brand’s sales fell by 4% to €77.7m, attributed to the hit taken by Lalique Parfums in the US and Middle East to consolidate international distribution of the brand.

The Ultrasun segment reported healthy growth across new and existing markets, and a positive entry into China, with global sales up 19% to €13m.

Revenue from Jaguar Fragrances was up 35%, driven by two successful product launches, while Parfums Grès declined by 9% due to a negative performance in the US. Bentley Fragrances and Parfums Samuraï reported sales growth of 16% and 19% respectively.

The company will not pursue its planned partnership with Hong Kong-based Damian Limited, which was announced on November 7 and would have entailed a rights issue. The deal was intended to boost Lalique’s position in Asia and would have seen Damian Limited invest €20m in Lalique Group and in a Chinese joint venture. Lalique said Damian Limited withdrew from the partnership for internal reasons.

Lalique Group ceo Roger von der Weid said the company will continue to look for opportunities to enhance the presence of the Lalique brand in Asia.

Lalique Group also plans to increase its liquid assets by proposing to increase its current equity by up to 1,000,000 shares and converting shareholder loans. Gross proceeds from the cash capital increase are estimated at up to CHF8.388m (€7m).

The group also says it wants to broaden its investor base by changing its listing from the BX Berne eXchange to the SIX Swiss Exchange.