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.
One brand that had to weather a particularly complicated moment due to Covid-19 is Wolford, the high-end skinwear and hosiery marque that not only went though the lockdown, but also sold its Austrian headquarters.
Wolford has shared plenty of bad news in recent years but this week the brand shared some good news too. The company said that it's now debt-free and has the cash to get it through the coronavirus crisis.
Wolford is taking a similar approach to some other companies in the midst of the coronavirus pandemic and is seeking to raise cash by selling its HQ. It’s currently in talks to sell and rent back its property in Bregenz.
Jean-Philippe Hecquet has left his position as CEO of Lanvin in a major management overhaul of the brand, which happens to be the oldest haute couture house in Paris. The decision is effective immediately.
Few groups have excited as much attention in luxury in the past few years as Fosun, a giant Chinese conglomerate that has gradually built up a significant position as a player in fashion and elegance in Europe.
The brands have teamed up to launch a capsule collection. First seen on the catwalk during Men’s Fashion Week in Paris in June, the collaboration includes a pair of illusion tights and a knitted dress.