Tiger of Sweden and By Malene Birger owner IC Group is selling its under-performing Saint Tropez brand to DK Company A/S and has also issued a warning that its remaining brands will be weaker than it had expected.
Declines at By Malene Birger and Tiger of Sweden meant a challenging year for IC Group, but a new structure means its brands will sink or swim on their own merits at it becomes a holding company and mulls more sell-offs.
IC Group may have been under pressure in recent periods but at least it had some better news on Friday as the owner of the Tiger of Sweden and By Malene Birger brands revised its earnings guidance upwards.
Times are tough at Denmark’s IC Group with the Tiger of Sweden and By Malene Birger owner reporting weak sales. And while consolidated operating profits are rising, gross profit is down and it faces huge challenges.