Goldwin Inc. has acquired a minority stake in Woolrich International as part of a new industrial and financial partnership.
The investment was made through a purchase of shares from WP Lavori in Corso, Woolrich International’s majority shareholders, and a dedicated capital increase.
The financial terms of the agreement were not disclosed.
“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.
Woolrich International was created after the merger between Woolrich Inc. and Woolrich Europe in fall 2016. The alliance with Goldwin Inc., a specialist in outdoor technical-wear, represents a new milestone for the brand to accelerate the global growth. The partnership is set to develop a new and premium outdoor collection designed with Goldwin’s state-of-the art technology. The new Woolrich Outdoor line represents a new chapter in the brand’s history; a premium outdoor product with 187 years of history reinterpreted through the lens of Japanese outdoor experts, bringing a new perspective to the outdoor market.
“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,” said Woolrich Creative Director Andrea Cané. “I’ve always respected Goldwin’s dedication to the development of superior performance wear. Their vision to invent creatively and their uncompromising attention to function is what makes them a leader in the industry. Our collection with them will be released over a period of time as Goldwin begins to unveil their newest technologies.” The first menswear collection will be launched for Fall/ Winter 2018. The distribution will target select and exclusive retailers in North America, Europe and Asia, both in fashion and outdoor markets.
“This agreement is a milestone in the growth of an iconic American brand,” said Nick Brayton, president of Woolrich Inc. “and it will translate into further acceleration of our growth. As seventh generation of the Woolrich family, I could not be more proud for what this project means for the future of Woolrich.”
The new outdoor collection will be a part of the global brand development plan in which Woolrich International, which closed their 2016 fiscal year with a revenue of $190 million, continues its path of development with prospects for an annual average growth of 12% from 2017 to 2020.
“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,”said Takao Watanabe, vice president of Goldwin Inc. “The new Woolrich Outdoor line brings a new style of outdoor apparel for the next generation, combining technology applied natural science and the most traditional outdoor brand in US representing the east coast culture. We are also considering the utilization of petroleum- free synthetic protein materials co-developed with our partner, Spiber Inc., a Japanese start-up who has recently garnered attention for their revolutionary syntetic protein materials. We aim to combine the outdoor industry to coexist with nature.”
Photo courtesy Woolrich
