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Home / Knowledge / News / Fashion / Fosun acquires 51 per cent stake in Wolford
Fosun acquires 51 per cent stake in Wolford
14
May '18
Courtesy: Wolford
Courtesy: Wolford
Fosun Industrial Holdings has acquired 50.87 per cent stake in Wolford from the previous majority shareholders, becoming its major shareholder. The Chinese financial investor systematically invests in the global fashion and consumer goods industry. The management of its growing portfolio in the fashion sector was recently handed over to Fosun Fashion Group.

With the so-called closing of the transaction today, the process of selling the majority of shares in Wolford AG 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.

Fosun Fashion Group 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.”

Joann Cheng, president of Fosun Fashion Group said, “We are pleased to become Wolford’s 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 Fosun’s expansive China and global resources to grow and strengthen its high luxury positioning while maintaining its exceptional high quality of production in Europe.” (SV)

Fibre2Fashion News Desk – India


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