EANS-News: Wolford Launches Market Offensive in China with a New Partner
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Bregenz - Starting on February 1, 2019, Wolford AG is relying on Fosun Fashion
Brand Management Company (FFBM) as its new partner to manage the company's brand
identity in the important Chinese market which features a steadily growing class
of luxury-oriented consumers. After Wolford's success in expanding its presence
Hong Kong and Macau up until now, FFBM has now been contracted to steer the
planned marketing drive in China.
FFBM is a subsidiary of Fosun Fashion Group and a full-service provider focusing
on marketing and sales of luxury brands in China. The founder and CEO James Chen
and his team members have more than fifteen years of experience in the
management of international brands such as Roberto Cavalli, St. John and M
Missoni.
FFBM will contribute its local expertise on Wolford's behalf in order to develop
a detailed market entry strategy for China and assume responsibility for the
operational management of all wholesale and retail channels as well as for e-
commerce. In this way, FFBM will ensure the cultural "fit" of the merchandising
and also carry out all operational tasks. Wolford aims to gradually and
sustainably develop its business on the Chinese market in collaboration with
FFBM. Medium-term revenue generated in China should be comparable with Wolford's
present core markets of the USA (19% share of revenue) and Germany (15%).
"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", states Wolford CEO Axel Dreher. Studies show that sales of premium
brands in China have shown clear double-digit growth recently, above all thanks
to eager to millennials who are eager to buy.
Further inquiry note:
Wolford AG
Maresa Hoffmann
Investor Relations & Corporate Communications
Tel.: +43 5574 690 1258
investor@wolford.com | company.wolford.com
end of announcement euro adhoc
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issuer: Wolford Aktiengesellschaft
Wolfordstrasse 1
A-6900 Bregenz
phone: +43(0) 5574 690-1258
FAX: +43(0) 5574 690-1410
mail: investor@wolford.com
WWW: http://company.wolford.com
ISIN: AT0000834007
indexes: ATX GP
stockmarkets: Wien, Frankfurt, New York
language: English
