Wolford sets sights on China
After expanding its presence Hong Kong and Macau, Wolford has teamed up with the Fosun Fashion Brand Management Company to help it enter China.
A subsidiary of Fosun Fashion Group, FFBM has been contracted to steer Wolford’s planned marketing drive in China. This will include contributing local expertise to develop a detailed market entry strategy for Wolford and the operational management of all wholesale and retail channels. Last year Fosun Industrial Holdings purchased a majority stake in the Wolford business.
Wolford would like its medium-term revenue in China to be comparable with its present core markets of the USA and Germany which account for 19% and 15% of revenue respectively.
Wolford chief executive Axel Dreher said: “The FFBM team was just as convincing to us as the successful track record of the brands it has represented up until now. The company has the necessary experience and the right contacts and will provide an indispensable local touch to our brand presence as well as for the dynamic development of our business in China.”
Earlier this month Wolford opened its first shop in Amsterdam. The store features a new design concept which will be rolled out to further stores if successful.
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