Cosabella acquired by Crown Brands Group from Calida

US brand management firm Crown Brands Group (Crown) has completed the acquisition of Italian luxury lingerie label Cosabella from Swiss apparel group Calida. The transaction represents the second acquisition for Crown since its establishment, following its purchase of US intimates brand Hanky Panky in December 2025. Financial details of the agreement were not disclosed.

Under the terms of the transaction, Crown will direct global brand strategy, marketing, and licensing for Cosabella through an operating model supported by category partners. The asset purchase includes the trademark, intellectual property rights, and commercial inventory for the lingerie brand.

Operational integration and strategic licensing

US manufacturer Rafar Group (Rafar), the parent company of Gelmart International, will serve as the core operating partner and exclusive intimate apparel licensee for Cosabella. In this role, Rafar will oversee product design, development, e-commerce operations, and distribution. Rafar holds an identical licensee position for Hanky Panky within the corporate portfolio of Crown.

Additionally, US apparel manufacturer Dreamwear has been named as the exclusive licensee for the sleepwear and loungewear categories of the label. Together with its operational partners, Crown plans to expand distribution across department stores, specialty boutiques, digital channels, and international retail markets.

Portfolio expansion and corporate strategy

"Cosabella is everything we look for in a brand: true Italian craftsmanship, a devoted customer, and a name that means something in every major market," said Raymond Dayan, chief executive officer of Crown, in a press statement. "Alongside Hanky Panky, Cosabella gives Crown a clear leadership position in premium intimates, and it validates the model we set out to build: to acquire authentic heritage brands, pair them with best-in-class operating partners and invest in their next chapter of growth".

The divestment allows Swiss group Calida to streamline its corporate portfolio and focus on its core brands, Calida and Aubade. Crown confirmed it is actively evaluating further acquisitions of heritage labels with global recognition across apparel and lifestyle categories.

Advising on the deal, Lincoln International served as financial advisor and Benesch acted as legal advisor to Crown. Covington acted as legal advisor to Calida.