Wolford said the first half of this year “developed similarly to the last months of 2020” with the US and China continuing “solid growth”, while ongoing and new Covid measure “led to business losses in Europe”.
Delta Galil is on a roll. Fresh from announcing a major underwear licence deal with Adidas, the Israel-based manufacturer will now tcreate, produce and market new women’s lingerie and swimwear collections for Wolford.
Wolford released its delayed results for its shorter fiscal year late on Wednesday and while it swung to a profit, the upscale hosiery and bodywear firm also talked of “significant business losses” due to the pandemic.
Upscale hosiery and intimates specialist Wolford delivered a brief update this week and revealed how hard the pandemic hit it, although it also said that its restructuring program is gaining traction.
Wolford has inked an agreement with Adidas to collaborate on a series of new seamless performance garments with the emphasis on all-day wearability. This debut collaboration will be launched on November 2.
Wolford was upbeat on Thursday despite reporting a “significant annual loss” for the latest year. It may have seen a downturn in revenues, but it's also seeing the first positive results of its transformation programme.