Case Studies

Case Study: Eveden

The Company:

Eveden is a leading supplier of premium fuller bust and full figure lingerie and swimwear brands. The business has an international footprint that includes sales offices in the US, Asia and Europe and a customer base of over 5,000 retailers across 50 countries

Added Value:

  • In 2006 LDC took a minority stake investment in Eveden
  • Since 2006 employee numbers rose by 34% to 660 people
  • In 2011 Eveden’s turnover increased to £81.9m, an 18% uplift with a pre-tax profit of £8.4m, a rise of 47% from 2010
  • LDC worked in close partnership with the management team to implement a strategic growth plan focussed on a roll-out of some of Eveden’s key brands across international markets
  • Eveden’s range of products expanded into swimwear and shape wear and following an acquisition of French lingerie brand Huit they further expanded their brand portfolio with Elomi and Fauve

Outcomes:

  • In 2012 LDC completed a £148m exit transaction with Tokyo Stock Exchange listed Wacoal Holdings Corporation
  • This deal returned a 3.8x money multiple on the original investment
  • Wacoal’s worldwide distribution footprint provides an ideal strategic fit to leverage Eveden’s brand portfolio internationally
“We have enjoyed a close working relationship with LDC for over six years and they have been a supportive and engaging partner. “Their strategic input and challenge has been invaluable and Eveden now has a strong foundation upon which to progress further.”
Tracy Lewis, Chief Executive, Eveden

Highlights:

  • 3.8x exit money multiple
  • 34% employee increase
  • 18% sales increase
  • 47% profit before