- Fosun Industrial Holdings Limited (Fosun) is now the new majority shareholder of Wolford with a stake of close to 51%
- Management Board welcomes the participation of the new anchor shareholder
- Fosun representatives underscore growth potential of the company
Bregenz, May 4, 2018: With the so-called closing of the transaction today, the process of selling the majority of shares in Wolford AG (ISIN AT0000834007) has now been successfully concluded. Following the acquisition of 50.87% of the shares from the previous majority shareholders, Fosun Industrial Holdings Limited is now the new main shareholder of Wolford. The Chinese financial investor systematically invests in the global fashion and consumer goods industry, and the management of its growing portfolio in the fashion sector was recently put in the hands of Fosun Fashion Group, which holds stakes in the German Tom Tailor Group and the French luxury brand Lanvin, amongst other holdings.
The stake acquired by Fosun once again confirms the appeal of our brand and our growth opportunities. We are very pleased with the participation of an anchor shareholder boasting substantial experience in the luxury goods segment, which, last but not least, will significantly facilitate our access to the Asian market, especially China, states Axel Dreher, CEO of Wolford.
The capital increase guaranteed by Fosun will sustainably strengthen the equity base of our company, explains Wolford CFO Brigitte Kurz. With the help of this financial strong majority shareholder, we will be able to accelerate the expansion of our promising online business and redesign our market presence, thus returning the company to a growth path.
Ms Joann Cheng, President of Fosun Fashion Group said, We are pleased to become Wolfords new partner and confident that this globally renowned brand has significant growth potential. As China continues to drive the global luxury market, Wolford can leverage Fosuns expansive China and global resources to grow and strengthen its high luxury positioning while maintaining its exceptional high quality of production in Europe.
Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun’s total assets amounted to RMB 533.8 billion (c.US$ 85 billion) as of 31 December 2017. With its roots in China, Fosuns mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world.
About Fosun Fashion Group
The Fosun Fashion Group was created to manage Fosuns current portfolio of fashion assets including Lanvin, St John Knits, Caruso, and Tom Tailor as well as invest in additional global flagship brands to leverage the momentum in the Chinese consumer market. The Fosun Fashion Group team is comprised of operating and investment professionals with vast experience investing in and operating multinational brands. The Fosun Fashion Group believes that long-term value can be created through a variety of strategic initiatives, including brand building, new product development, strategic alliances, entry into new channels and marketing.