Wolford has set itself clear strategic goals. Controlled multichannel distribution, i.e., stores directly operated offline and online coupled with partnership stores operated by wholesale partners, and a prominent presence in key luxury and premium department stores globally will be used to reach every potential customer worldwide. The company intends to exploit the full potential of its own locations and substantially boost their profitability. Wolford aims to generate long-term, sustainable growth.
To reach these goals, the measures already introduced in 2014 to revitalize the brand, modernize the product portfolio, refocus market communications, and boost multichannel distribution will be consistently pursued and extended in some cases. Since 2015, Wolford has also implemented a new go-to-market model that is exclusively aligned to the needs of end customers and ensures a continuous stream of new merchandise at the point of sale.
Furthermore, in 2015/16 the company scrutinized all of its organizational and cost structures. Detailed analysis, which included a comparison of the company with other luxury brands, revealed that Wolford is positioned well in terms of its gross margin, but that its overall costs are structurally too high for it to achieve its profitability target. Against this backdrop, in the current 2016/17 financial year Wolford will not only be consistently pressing ahead with the measures already introduced to optimize production and logistics, it will also be restructuring its sales & marketing organization and analyzing all support functions in terms of their contribution to its success.
So Wolford’s strategy is two-pronged: The company intends to systematically boost its revenues while at the same time reducing its overall costs and thus gradually increasing its profitability.
For more than 65 years now, Wolford has inspired its customers with fashionable and innovative legwear that combines maximum comfort with a perfect fit. In addition to classic year-round essentials, the Legwear product group also includes seasonal trend designs. Wolford offers an extensive range of hosiery, ranging from tights, stockings, stay-ups and knee-highs to leggings and socks, which is complemented by functional Shape & Control products with a highly innovative character. Legwear is the company’s core product group and forms the foundation for the Ready-to-wear and Lingerie product groups.
In its women’s outerwear line, Wolford offers classic chic as well as trendy products made of materials offering the greatest comfort – such as the finest Merino wool available on the market today. The collection includes all figure-embracing products like bodies, shirts and tops (bodywear). These are supplemented by figure-enhancing products like Merino pullovers, skirts, and dresses. Common to all these products is their high quality, easy care and their suitability for all occasions. They are a perfect addition to Wolford’s legwear and can be combined in a wide variety of ways.
Wolford’s lingerie collection is characterized by timeless design, sophisticated details, and high functionality. With its Shape & Control products, Wolford also offers body-forming lingerie in both the classic and decorative product series. The Lingerie collection also harmonizes ideally with the Legwear and Ready-to-wear collection. Together, the three product groups form the “Three Layer Concept”, which was successfully introduced with Wolford’s 2016 spring/summer collection.
The Accessories product group complements the Wolford collection in terms of style and colour, and thus ensures a holistic fashionable look. Harmonizing in materials and colours schemes, Wolford’s scarves, hats as well as shawls, hair bands, belts and legcessories create distinctive accents based on their effective details and patterns and thus complement every outfit. Also in the course of the strategic refocusing plan, Accessories still play an important role in Wolford’s product assortment.