Woolrich, acquired by Luxembourg private equity fund L-Gam in 2018, saw sales rise 22 percent in 2021 due mainly to investments in expanding direct-to-consumer (DTC) sales, according to a report from WWD.
“The business mix has changed completely,” said CEO Stefano Saccone. DTC now accounts for 60 percent of sales versus 15 percent in the past.
Saccone was appointed Woolrich’s CEO in July 2019. Before that, he was vice president and general manager for Vans’ EMEA region.
In 2021, according to the report, retail revenues jumped 44 percent versus 2020, lifted by a strong holiday season, with fourth-quarter sales in the channel growing 13 percent over 2019 levels. E-commerce sales jumped 75 percent compared to the previous year, tripling their share since 2019. Also driving growth was efforts to leverage online marketplaces, including Farfetch.
Woolrich has 30 stores worldwide, including its flagship on Wooster Street in Manhattan’s SoHo district.
Photo courtesy Woolrich
