IC Companys has signed an agreement to divest its Mid Market division, leaving the Danish apparel group with only three brands: Peak Performance, Tiger of Sweden and By Marlene Birger. The group pointed out that these three brands, which were recently put in a new Premium segment of the company, enjoyed average growth 8 percent in the last three years and said that they still hold large potential for international growth, requiring additional investments and resources. To simplify its structure and improve earnings, IC Companys has already sold two of its brands, Jackpot and Cottonfield, last year. The Mid Market brands being sold now are InWear, Matinique, Part Two and Soaked in Luxury. Its Companys store concept is part of the package. The buyer of all these properties will be DK Company.
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