Woolrich Sets U.S. Expansion
The outerwear label will inaugurate a new flagship in New York in February.
MILAN — Woolrich is setting the foundations for expansion in the U.S.
The outerwear company, which recently passed under the control of L-Gam, a Luxembourg-based investment firm backed by the princely family of Liechtenstein, is gearing up to open a showroom on New York's Varick Street and a new flagship in the heart of SoHo, on Wooster Street.
The first is slated to open in January, while the latter will be inaugurated in February during New York Fashion Week.
According to Rita Capasa, the brand's general manager for North America, the United States accounts for 18 percent of the business of Woolrich, which was previously controlled by WP Lavori in
Corso. Last month, the Italian fashion company sold the totality of its stakes to L-Gam, while Woolrich's Japanese partner Goldwin increased its investment in the brand to control 20 percent of the company. Incidentally, Capasa is the sister of Carlo and Ennio Capasa, the head of Italy's Camera Nazionale della Moda and the founder of the Costume National brand, respectively.
“L- Gam aims to create a solid internal organization to boost our international business,” said Woolrich creative brand director Andrea Canè. “The final goal is to generate a turnover of $350 million and become a public company in five years.” In 2017, Woolrich posted revenues of $205 million.
Asia, where the company will operate through a venture with Goldwin focused on expanding the brand's presence in the market beginning in Korea, and especially the U.S., will be key to accomplishing the ambitious mission.
“We are putting a lot of effort in making our collections look more appealing for the North American market,” said Canè, highlighting that the company has hired New York-based stylist Mel Ottenberg, who is the man behind Rihanna's most acclaimed looks, as a fashion consultant.
According to Canè, the fall 2019 collection will reveal the new course of the company, which has also streamlined its internal organization, closing several licensees in the U.S. The firm, which in the past operated several lines, offers only the Woolrich premium urban line and the Woolrich Outdoor Label, a more technical range distributed by Goldwin.