IC Group explores strategic options for Peak Performance

The board of directors of IC Group has decided to initiate a strategic review process of its fully-owned brand Peak Performance to identify whether IC Group – either partial or in full – also serves as the best owner of Peak Performance in the future. The company has appointed investment bank Rothschild & Co to assist in the process.

Commenting on the development, the Chairman of the board, Peter Thorsen, said in a statement: "Throughout the past couple of years Peak Performance has experienced a strong development with an improved operational business model, strengthened collections and not least improved results. The next part of the journey is to accelerate the international strategy. Perhaps another owner would be better able to lead this next step of the journey than IC Group which is the reason why the board of directors has decided to explore this option thoroughly.”

For the fiscal year 2016/17, Peak Performance revenue of 1,035 million Danish krona (165 million dollars) rose 10.6 percent or 11.6 percent in local currency, driven by both the wholesale and retail channels. The same-store revenue during the period increased by 9 percent driven by the high ecommerce growth.

The company does not expect any impact of this announcement on IC Group’s financial outlook for the financial year 2017/18. For FY17/18, the company expects a moderate revenue and earnings growth at Peak Performance while the company is expected to witness a moderate revenue decline with significant earnings improvement at By Malene Birger.

Picture:Peak Performance website