- Prachi Singh |
Goldwin Inc. has acquired a minority stake in Woolrich International, through a purchase of shares from WP Lavori in Corso, Woolrich International’s majority shareholders, and a dedicated capital increase. The partnership is set to develop a premium outdoor collection designed with Goldwin’s state-of-the art technology.
“This transaction is part of a global strategy to develop the Woolrich brand internationally and the partnership with Goldwin will support this process both from a financial and industrial stand point,” said Paolo Corinaldesi, Woolrich International CEO in a press release, commenting on the development.
Woolrich and Goldwin to jointly develop premium collection
Woolrich International was created after the merger between Woolrich Inc. and Woolrich Europe in fall 2016. The company said, this new alliance with Goldwin, one of the advanced experts in outdoor technical-wear, represents a new milestone for the brand to accelerate global growth. The first menswear collection will be launched for fall/winter 2018 season, targeting select and exclusive retailers in North America, Europe and Asia.
“This is a new chapter in Woolrich’s story since the brand has historically produced the core of our product with wool and we will now increase our offering adding new performance technologies for a new generation of outdoor enthusiasts,” added Woolrich Creative Director, Andrea Cané.
In 2016 fiscal year, Woolrich International reported revenues of 190 million dollars and with its global product development plan, the company expects an annual average growth of 12 percent between 2017 to 2020.
Commenting on the Goldwin’s association with Woolrich, Takao Watanabe, Vice President of Goldwin said, “The mission of the new outdoor collection is to provide uncompromising functionality, approaching with an attitude that always looks for the complex and mutual relationship with nature and seeks new discoveries, to design with a modern interpretation and high sensitivity. We are also considering the utilization of petroleum-free synthetic protein materials co-developed with our partner, Spiber Inc.”
Picture credit:Woolrich Europe