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Australia:Wolford in talks with potential
partners for new partnerships |
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2004-12-15
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Austrian hosiery and lingerie specialist Wolford AG is negotiating new co-operations for hosiery and clothing to replace the ones with Vivienne Westwood and Karl Lagerfeld when they end at the end of 2006.
The Bregrenz-based company informed it was in talks with potential partners, but would not reveal names.
In spring this year, the company signed a licensing agreement with Italian fashion house Gorgio Armani for Armani branded hosiery and bodywear.
Wolford also intends to refit its directly-owned and franchise stores, starting July 2008. Next year, 20 to 25 new stores are scheduled to open, bringing the total number of stores to up to 251.
In the first half ended 30 April 2004, Wolford increased its profit on ordinary activities from €86,000 to €246,000, while tax changes led to a 37 percent drop in net profit to €300,000.
The company''s debt was reduced by 18.1 percent to €27.9 million.
The company expects a slight rise in both sales and profit for the year ending April 2005. Sales trends in November were positive, Wolford stated.
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