Wolford news and archive

Wolford issues profit warning

After presenting the Christmas business and in light of the ongoing market weakness in January 2019, the management board of Wolford Ag has announced that it does not expect the company to achieve positive operating earnings (EBIT) in the current 2018/19 financial year. The board has therefore revised its previous forecast and now anticipates a...

Report

Wolford reaffirms full year outlook despite revenue decline in H1

Wolford AG generated revenue of 62.37 million euros (70.7 million dollars) in the first half of the current financial year, a decline of 11 percent or 10 percent when adjusted for changes in currency exchange rates. The company said that it managed to slightly improve operating earnings (EBIT) in spite of the revenue decline and higher marketing...

Business

Wolford Launches New Market Presence

Starting today, Wolford is present across the globe with a new imagery. Just on time to coincide with the new spring/summer 2019 fashion collection, the brand presents itself in a fresh and sometimes provocative look in line with the campaign motto #truecharacter: It is designed to underscore the claim made by the Wolford brand that women will...

Report

Fosun increases shareholding in Wolford to 58 percent

London - Fosun Industrial Holdings Limited, the group controlled by Chinese billionaire Guo Guangchang, has increased its majority holding in Wolford AG. Following its acquisition of 50.87 percent of the shares from the company’s previous majority shareholders earlier this month, Fosun takeover offer to acquire all outstanding shares in Wolford...

Management

Fosun completes acquisition of majority stake in Wolford

After Lanvin, Fosun International has successfully completed acquisition of the majority of shares in Wolford AG, the latter has announced. Following the acquisition of 50.87 percent of the shares from the previous majority shareholders, Fosun Industrial Holdings Limited, a group controlled by Chinese billionaire Guo Guangchang is now the new...

ManagementFeatured

Fosun to acquire majority stake in Wolford, ahead of takeover bid

London - Fosun Industrial Holdings Limited is set to acquire a majority stake in luxury Austrian textile manufacturer Wolford AG. The Chinese financial investor has come to an agreement with the main shareholder of the struggling group and is set to take over more than 2.5 million shares, approximately 50.87 percent of the total share capital of...

Report

Wolford continues layoffs, to cut 15 more staff positions

Wolford AG has revealed implementation of its cost reduction measures, which mainly involves the downsizing of its administrative staff. Since July 2017, Wolford has already decreased its workforce by 41 full-time positions, by natural attrition or by not filling vacant positions. The company added that personnel level at company headquarters in...

Report

Claudia Beermann named Chairwoman of the Wolford board

Following the 30th annual general meeting of Wolford AG held in Bregenz on September 14, 2017, the supervisory board reorganized the top board positions. The company said in a statement that Claudia Beermann, who had served as deputy chairwoman of the supervisory board since September 18, 2014, was elected to serve as Chairwoman of the...

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Wolford Q1 revenues witness a 4.9 percent growth

Wolford AG has said that its first quarter revenues, adjusted for currency items, grew by 4.9 percent to 29.09 million euros (35.12 million dollars). The company added that consistent with this growth, operating earnings also improved on the weak previous year's quarter to -7.22 million euros (-8.72 million dollars) against -8.08 million euros...

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Wolford’s chair quits as annual EBITDA losses reach 3.39 mn euros

Wolford revenues for the 2016/17 financial year fell by 5 percent or 4.1 percent adjusted for currency effects to 154.28 million euros (180 million dollars). EBITDA loos amounted to 3.39 million euros (3.97 million dollars) compared to a profit of 8.38 million euros (9.82 million dollars last year, while EBIT totalled 15.72 million euros (18.43...

ManagementFeatured

Wolford CEO to step down from role following Management shake-up

London - Ashish Sensarma, Chief Executive Office of Wolford is set to resign from his position on the management board, as of July 31, 2017. He will be succeeded by Axel Dreher, former Deputy Chief Executive Officer, and Chief Financial Officer, who will also take on management responsibility for the company's strategy, marketing and sales from...

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Wolford shareholders' group seek to sell majority stake

The leading shareholders of Wolford are currently looking to sell their undefined majority stake in the textile company. The move comes as the Austrian-based company restructures its business in an attempt to cut its losses. WMP Familien-Privatstiftung, Sesam Privatstiftung and its subsidiary the “M. Erthal & Co.” Beteiligungsgesellschaft, as...