IC Group has divested all of its shares in Designers Remix A/S

Today, IC Group A/S has divested all of its shares (51%) in Designers Remix A/S to Hesselbjerg Holding A/S, which is controlled by Niels and Charlotte Eskildsen.

This divestment means that as of the interim report for H2 2018/19, expected to be announced on 6 February 2019, Designers Remix will be classified and presented as discontinued operations.

For the financial year 2018/19, a flat revenue development for the Group's continuing operations in total, measured in local currency, is expected. The EBIT margin is expected to be realized at a level of 0-1% prior to non-recurring costs in respect of the transformation of the Group structure. Investments for the financial year 2018/19 are expected to amount to approx. 4% of annual revenue primarily driven by Tiger of Sweden.

The financial expectations for each of the Group's continuing business segments; Tiger of Sweden, By Malene Birger and Saint Tropez as well as Central functions and non-recurring costs in respect of the transformation of the Group structure are unchanged compared to the most recent outlook announced in the interim report for Q1 2018/19 on 6 November 2018 (Company Announcement no. 33/2018).

IC Group A/S

Please direct any questions regarding this announcement to:              

Karin Hjort Jensen

Executive assistant to the CEO

+45 32 66 75 43

This announcement is a translation from the Danish language. In the event of any discrepancy

between the Danish and English versions, the Danish version shall prevail.