Baltika Group Joins European Lingerie Group

We’re happy to share that Baltika Group has a new owner — European Lingerie Group (ELG). This marks a transformative step in our journey, opening the door to new opportunities for our company and our brand, Ivo Nikkolo. With nearly a century of fashion heritage in the Baltics, Baltika is ready to grow and ELG’s backing gives us the strength to do it. From expanding our product range to reaching new international markets, this partnership brings us fresh momentum.

“Joining forces with ELG is an exciting step for Baltika. It allows us to build on our heritage while unlocking new growth opportunities for Ivo Nikkolo,” said Brigitta Albertin, CEO of Baltika Group, together with CFO Margus Olesk.

European Lingerie Group is a leading vertically integrated lingerie and textile company, with 140 years of experience, operations in 52 countries, and a portfolio of respected brands across Europe. Led by Chairman and CEO Indrek Rahumaa, ELG is actively scaling its presence and preparing for a listing on the UK public markets through a Reverse Takeover (RTO).

“The acquisition of Baltika represents a strategic and synergistic expansion of our portfolio,” noted Indrek Rahumaa. “This partnership unlocks clear synergies between the two businesses, and we are excited about the many opportunities to drive continued growth together.”

This new chapter brings strategic benefits for Baltika:

• Broader product offering and entry into new categories
• Shared focus on e-commerce growth and cross-brand visibility
• New wholesale opportunities across Europe
• Increased efficiency through integration of operations
• Stronger foundation for international expansion

We look forward to building the future together with ELG and extend our sincere thanks to Baltika’s former owners, KJK, for their continued support and assistance during the restructuring of Baltika and through the difficult times the company has faced in recent years.