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Woolrich sale completes

The investment fund for Liechtenstein’s royal family, L-Gam, has bought a majority stake in US outwear brand Woolrich International.

Former Woolrich owners WP Lavori in Corso and WP Holding confirmed the deal had completed but financials were not disclosed. 

Japanese firm Goldwin Inc is expected to increase it’s investment in the brand following the L-Gam takeover, with Goldwin and Woolrich establishing a new joint venture to focus on Asian markets, including South Korea for the autumn 19 season.

L-Gam is a Luxembourg-based fund established to make long-term strategic investments on behalf of the royal family of Liechtenstein and other families from Europe, US and Asia.

Woolrich International, which ended 2017 with revenues of €180m (£158m), has a global network of 32 branded stores, the most recent of which opened this month in Tokyo. Stores in Rome and New York will follow.

Chief executive of Woolrich International, Paolo Corinaldesi said: “It is an important step towards achieving the ambitious goals that the company has set for itself.

“The partnership with L-Gam, a fund with a longer term investment approach, will ensure the continuity of our headquarters and management, while at the same time enabling us to expand the business, with investments in Europe, North America, Japan and Asia, also thanks to the strategic partnership with Goldwin. Our goal remains to be listed on the stock market within five years.”

 

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