Uso de cookies Utilizamos cookies propias y de terceros para mejorar nuestros servicios y mostrarle publicidad relacionada con sus preferencias mediante el análisis de sus hábitos de navegación. Si continúa navegando, consideramos que acepta su uso. Puede obtener más información sobre nuestra: Política de cookies

The global fashion business journal

25 Apr 201913:47

Wolford builds restructuring plan to save 10 million after Fosun’s acquisition

After closing 2018 with a fall of 9% in its sales, the Austrian hosiery company prepared a new strategy with the objective of going back to profitability in 2020.

27 Feb 2019 — 17:00
MDS
Share
Save

Wolford builds restructuring plan to save 10 million after Fosun’s acquisition

 

 

Wolford starts a restructuring plan. The Austrian hosiery company, owned by Chinese giant Fosun, has prepared a strategy after closing 2018 with a drop of 9% in its revenue.

 

Specifically, the group plans to save 10 million euros this year to go back to profitability at the end of the fiscal year 2020. To do so, the company’s plans are based on boosting its growth in the Asian market, as well as entering into negotiations with financial entities with the objective of guaranteeing funds to meet its liquidity needs.

 

The company was acquired by Fosun at the end of last May. The Chinese group took 50.9% of the company’s shares for an amount that was not disclosed. Within this framework, the group reduced the workforce of its headquarters in Bregenz (Austria), where it dismissed more than fifty employees.

Advertising
Comment
Share
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...