Woolrich forms partnership with Goldwin, to launch new Outdoor label in 2018
Woolrich International announced on Thursday that sportswear manufacturer Goldwin Inc. has acquired a minority stake in the brand.
Japan-based Goldwin acquired a minority stake in Woolrich through a purchase of shares from WP Lavori in Corso, Woolrich International’s majority shareholders and a dedicated capital increase. According to Woolrich International CEO Paolo Corinaldesi, the transaction is “part of a global strategy to develop the Woolrich brand internationally.”
“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,” says Woolrich Creative Director, Andrea Cané.
In addition, Woolrich and Goldwin entered into an industrial and financial partnership that will support Woolrich from financial and industrial standpoints.
“I’ve always respected Goldwin’s dedication to the development of superior performance wear,” added Cané. “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 American outdoor clothing brand created Woolrich International in fall 2016 after a merger between Woolrich Inc. and Woolrich Europe. Through the new partnership with Goldwin, Woolrich will develop a new and premium outdoor collection named Woolrich Outdoor that will capture the brand’s 187-year history and utilize Goldwin’s technology that is used by brands such as The North Face, Helly Hansen, and Speedo among others.
The first Woolrich Outdoor menswear collection will launch for fall 2018 and distribution will target select and exclusive retailers in North America, Europe and Asia.
“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 synthetic protein materials. We aim to combine the outdoor industry to coexist with nature.”
Woolrich closed fiscal 2016 with $190 million in revenue and expects to see an annual average growth of 12% from 2017 to 2020.
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