The Swiss intimates company, which also owns German brands Aubade and On My Skin, acquired the American lingerie label for $80 million, it announced Thursday, May 19.

Calida plans to use Cosabella’s position in the market to boost its e-commerce business in North America and launch the Calida and Aubade brands in the US, Calida Group chief executive Timo Schmidt-Eisenhart said in a statement.

“We will strengthen the awareness of Cosabella as a popular lingerie brand in Europe and at the same time will benefit from Cosabella’s US market knowledge,” Schmidt-Eisenhart said.

Cosabella was founded in 1983 by Valeria and Ugo Campello in Miami. The business has grown at a compound annual rate of 22 percent between 2017 and 2021 and generated $29 million in sales in the US last year.

The acquisition Thursday comes at the heels of Kimberly Clark’s new majority stake in period underwear maker Thinx and bra label ThirdLove’s purchase of Kit Undergarments.

Learn more:

The Intimates Business Is Changing. Can a 40 Year-Old Lingerie Company Keep Up?

The rise of start-ups like Skims and Parade has forced lingerie companies like Victoria’s Secret to evolve. Now, Cosabella, a decades-old lingerie company, is also rebranding to embrace a more inclusive image.